BTC, ETH up slightly as dollar weakens Monday

After briefly dipping below $19,000 on Sunday, bitcoin rose back above that point as the U.S. dollar began to weaken against other G7 currencies. Ethereum was also in the green, momentarily rising above $1,300.

Bitcoin

Bitcoin was trading slightly higher on Monday, with crypto-currency prices reacting to a falling U.S. dollar. After last week’s dollar rally, the currency has been relaxed to start the month, giving way to the return of the bitcoin bulls.

BTC hit an intraday high of $19,312.48 in today’s session, less than 24 hours after trading at a low of $18,970.62.

Looking at the chart, the movement has seen the token marginally exceed its resistance point at the $19,300 level, which has historically been an area of uncertainty. Currently the turbulence has picked up somewhat, BTC is trading at $19,208.10.

Today’s rally also coincided with the 14-day relative strength index (RSI) rebounding from a key low of 43.00. If this rally continues, we could see prices approaching $20,000.

Ethereum

Ethereum also shook off signs of a red October, as the token rebounded after four consecutive bearish sessions. After a low of $1,271.15 on Sunday, the world’s second-largest crypto-currency ran to a high of $1,308.90 to start the week.

The move saw ETH close in on its recent resistance level of $1,315, which has been largely in place since mid-September.

As with bitcoin, ethereum’s 14-day RSI has bounced off a support point at 36.60 and appears to be heading towards resistance at 41.50. If this happens, we will likely see the token head for a higher ceiling of $1,385, before potentially climbing back above $1,400.

The 10-day moving average (red) also appears to have changed course, which bulls will likely take as a positive sign.