Bitcoin broke above a resistance level of $28,500 on April 5, as crypto markets continued to react to economic data from the United States. Job postings in the US fell below 10 million for the first time since 2021, coming as employers began to scale back hiring efforts. Ethereum approached $2,000, hitting a fresh eight-month high today.
Bitcoin
bitcoin (BTC) broke a key resistance level on Wednesday, and traders are now targeting a move beyond the $29,000 mark.
After a low of $27,979.75 on Tuesday, BTC/USD moved to an intraday high of $28,739.24 earlier in today’s session.
The move sent Bitcoin higher above a recent top of $28,500, hitting a four-day high in the process.
Overall, it looks like the move happened once the RSI rebounded from a recent low at 58.
At time of writing, the index stands at 62.48, with the next visible top of 65.00 a possible target for the bulls.
There is a strong possibility that BTC it will be above $29,000 if this resistance point is reached.
Ethereal
In addition to BTCethereal (ETH) was also in the green, with prices rising to a new eight-month high.
ETH/USD moved to a high of $1,921.27 earlier in the day, which comes a day after trading as low as $1,855.37.
As a result of this rally, Ethereum returned to its strongest point since August 17, when the price peaked at $1,957.
This latest rise has brought price strength to a current reading of 65.87, which is marginally below the 66.00 ceiling.
Because of this, some previous bulls have moved to take profits, leading to ETH falling from the top of the day.
At the time of writing, Ethereum is trading at $1,915.88.
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