Bitcoin traded back below the $28,000 level on Friday as markets consolidated ahead of a key economic data day. The University of Michigan releases its monthly report on consumer confidence, which is expected to be lower than February’s sum. Ethereum also declined in today’s session.
Bitcoin
bitcoin (BTC) fell below the $28,000 level on Friday, as markets consolidated ahead of a key economic data day.
BTC/USD fell to an intraday low of $27,583.72 in today’s session, which comes a day after the price rallied to a high of $28,683.53.
The drop came as traders were unable to sustain a break above the $28,500 level, after a nine-month high the previous day.
Overall, it looks like previous bulls moved in to lock in gains as the 14-day RSI hit a top at 65.00.
At time of writing, the index is at the 60.84 level, which is marginally above a bottom floor at 59.00.
BTC it is now trading at $27,928.58, however some movement is likely after this afternoon’s data release.
Ethereal
ethereal (ETH) was once again trading below $1,800 as prices failed to break a recent key resistance point.
After a high of $1,827.28 on Thursday, ETH/USD fell to an intraday low of $1,766.25 in today’s session.
The sale on Friday occurred as ETH The bulls were unable to move beyond a long-term top of $1,830.
The second largest cryptocurrency in the world is now trading at $1,795.69, which apparently suggests that there is still some bullish sentiment left in the market.
This appears to be a result of price strength failing to break below a bottom at 52.00, and has since moved to a reading of 57.35.
If the RSI breaks above the 58.00 mark, which is the next visible point of resistance, then ETH it will probably go back above $1,800.
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Will Ethereum start trading in April above $1,800? Leave your thoughts in the comments below.
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