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• The prices of Bitcoin (BTC) and Ethereum (ETH) declined on Tuesday, as sentiment in cryptocurrency markets shifted following a move to a multi-month high.
• BTC/USD retreated from earlier highs, unable to break the resistance level at $25,200, whilst ETH/USD fell below its long-term support point of $1,675.
• The relative strength index (RSI) also failed to move beyond its own ceiling at 66.00 for Bitcoin and 61.00 for Ethereum.

Bitcoin Retreats Following 8-Month High

Bitcoin (BTC) prices dropped from their earlier highs during Tuesday’s session, as sentiment shifted following a move to a multi-month high. Prices surged to their highest point since last August earlier in the day, prior to a red wave sweeping through the market.

BTC Unable To Break Resistance Level

Following a high of $25,126.85 earlier in today’s session, BTC/USD has since gone on to fall to a low of $24,642.57. Tuesday’s earlier high sent the world’s largest cryptocurrency to its strongest point since June 13th but bulls were unable to force a breakout of the resistance level at the $25,200 mark. In addition to this, the relative strength index (RSI) also failed to move beyond its own ceiling at 66.00. As of writing, the index is tracking at 63.29 which is marginally above a support zone at 61.00.

Ethereum Drops Below Long-Term Support Point

Ethereum (ETH) also moved lower in today’s session as bears pushed prices below the $1,700 level ETH/USD plunged to an intraday low of $1,671