Bitcoin was back in the green on Saturday as prices moved close to the $29,000 level to kick off the weekend. After a volatile session on Friday, cryptocurrency markets were mostly higher at the start of April. Ethereum moved above the $1,800 level again.
Bitcoin
bitcoin (BTC) rose to $29,000 on Saturday, as markets continued to react to yesterday’s personal consumption spending (PCE) numbers in the United States.
The PCE rose to 0.3% in March, less than the 0.4% markets expected, showing that inflation was slowing.
BTC/USD rose to an intraday high of $28,802.46 earlier in today’s session, which comes a day after trading as low as $27,854.63.
Looking at the chart, the movement saw BTC short break of a long-term resistance level of $28,500.
Since then, previous gains have eased, which comes as the 14-day RSI failed to move beyond a top at 65.00.
As of this writing, the index now sits at 63.65, with a floor at 62.00, a possible target for sellers.
Ethereal
ethereal (ETH) was also higher to start the weekend, with prices once again rising above the $1,800 level.
After a low of $1,789.76 on Friday, ETH/USD reached a high of $1,844.68 earlier in today’s session.
As a result of the move, the world’s second largest cryptocurrency breached a ceiling in the $1,825 zone.
On the chart, this apparently coincided with the RSI breaking out of some resistance of its own at 59.00.
At the time of writing, price strength is now at the 60.15 mark, with the next top visible around the 62.00 region.
If the RSI approaches this point, Ethereum bulls will send prices towards a long-term target of $1,900.
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