Bitcoin added around 1.5% early Tuesday in what could be the first positive trading day in nearly a week.
Currently changing hands at US$16,440, the benchmark cryptocurrency faces strong resistance at US$17,000, with a support level marked at US$16,000.
Ethereum is also in the green today, having added 3.5% so far and is currently keeping its head above the US$1,200 price point.
A large Ethereum resistance wall has formed at the US$1,220 price point.
Despite the gains, investors are on tenterhooks following crypto firm BlockFi’s bankruptcy filing in the US, with fears of more market contagion on the horizon.