ETH briefly breaks out of $1,600, as bullish momentum continues.
rose to an intraday peak of $1,607.03 in today’s session, which is its highest point since July 12 also.
Similar to bitcoin, there has been some profit taking, with prices now trading at $1,525.80, however the token is still higher than Monday’s top.Looking at the chart, the slight decline in price comes as the 14-day RSI moved slightly away from its three-month high of 69.79. The index is currently tracking at 65.09 as of writing, and looks to be headed for a support level at 64.20.
Should it fall below this, then we could see a bullish sentiment shift, however bulls will likely resist this, and look to maintain upwards pressure.Tags in this story
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