Bitcoin started the week by rallying back above $28,000 as markets returned from the Easter holidays. The move caused the world’s largest cryptocurrency to briefly break a key resistance level of $28,500. Ethereum was also higher as it closed at the $1,900 level.
Bitcoin
bitcoin (BTC) was back above $28,000 at the start of the week as market sentiment turned bullish after the Easter break.
BTC/USD rose to a high of $28,532.83 earlier in today’s session, after trading as low as $27,828.48 the day before.
As a result of the move, BTC/USD marginally broke above a ceiling of $28,500, however the momentum has since changed.
Initially, today’s rally came as the 14-day RSI bounced from a recent low at 58.00.
At time of writing, the index is at 61.07, with the next visible point of resistance at the 65.00 mark.
BTC It is trading at $28,327.63 at the time of writing.
Ethereal
In addition to BTCethereal (ETH) was also higher on Monday, with prices closing at the $1,900 level.
After a minimum of $1,828.78 on Sunday, ETH/USD rose to a high of $1,873.06 to start the week.
Today’s price jump came as bulls re-entered the market, after a brief break below the $1,830 floor.
Since then, previous gains have eased which is due to the RSI approaching a key resistance point of 62.00.
At time of writing, price strength is at a reading of 58.83, with the index closing at a top of 62.00.
Ought ETH If it moves past this point, prices are likely to break above $1,900.
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Will Ethereum continue to move higher this week? Leave your thoughts in the comments below.
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