Ethereum rose back above $1,200 on Tuesday, ahead of the upcoming consumer confidence report from the United States. The price comes following a breakout above a key resistance level of $1,180. Bitcoin also climbed higher in today’s session, ending a five-day losing streak.

Bitcoin

Bitcoin (BTC) snapped a five-day losing streak on Tuesday, as prices moved away from a recent point of support.

Following a low of $16,054.53 to start the week, BTC/USD surged to an intraday high of $16,522.26 earlier today.

This surge saw bitcoin climb from its aforementioned price floor $16,175, which has been in play since earlier in the month of November.

Looking at the chart, although prices have surged, it will be a test to see if this momentum can be maintained, due to the relative strength index (RSI) colliding with a ceiling.

As of writing, the index is hovering marginally above a ceiling of 41.00, with a current reading of 41.12.

Should price strength continue in an upward direction, we could see more bulls entering the market, taking BTC closer to $17,000.

Ethereum

In addition to BTC, ethereum (ETH) also moved higher on Tuesday, ahead of the U.S consumer confidence report.

The Conference Board consumer confidence survey is expected to come in at a reading of 100, which is marginally below October’s reading of 102.5.

ETH/USD was back above $1,200 on Tuesday, hitting a high of $1,216.52 earlier in today’s session.

As can be…