Bitcoin, Terra and Ethereum – European Wrap 30 May

Bitcoin kicked off the week in a great posture, jumping by more than 5.20% since Monday’s open. The sudden bullish impulse allowed BTC to slice through the psychological $30,000 resistance barrier to hit a high of $30,980 over the past few hours. Prices have retraced since then, and now the pioneer cryptocurrency currently trades around $30,700. 

LUNA 2.0 price is consolidating below the midpoint of the recently formed trading range after the airdrop from last Saturday. Investors are advised to remain patient and wait for a directional bias to develop before getting into new trading positions.

 

LUNA/USDT 4-hour chart

Ethereum (ETH) price sees bulls storming out of the gate this morning as investors come back with a vengeance bearing a big bag of money to put to work. The Relative Strength Index (RSI) has shot up sharply this Monday during the ASIA PAC and European sessions, showing how overweight bulls are in the trade, and setting the tone for this week. Expect to see price driven up higher throughout the week towards $2,574.15, booking its best performing week for the year so far, with around 40% of profit gained by Friday.

 

ETH/USD daily chart