Fun

Bitcoin, Ethereum Technical Analysis: BTC Consolidates Above $28,000 on Monday

News Feed - 2023-04-03 09:04:31

Bitcoin, Ethereum Technical Analysis: BTC Consolidates Above $28,000 on Monday


Bitcoin started the week consolidating above the $28,000 level, as markets prepare for a big week of U.S. economic data. The headline will be this Friday’s nonfarm payrolls, which are expected to fall to 238,000 jobs. Ethereum remains above $1,800 as of writing. Bitcoin


Bitcoin (BTC) started the week consolidating around the $28,000 level, as volatility in crypto markets remained high.


Following a low of $27,607.67 earlier in today’s session, BTC/USD rose to a peak at $28,475.62 as the day progressed.


The move saw bitcoin move closer to a recent resistance level at $28,500, which was broken over the weekend. Bitcoin chart by TradingView



Recent price consolidation comes as the 14-day relative strength index (RSI) failed to move beyond a ceiling at 65.00.


As of writing, the index is tracking at 62.00, which is also a key point of support for traders.


Overall, the world’s largest cryptocurrency is now trading 1.46% higher than at the same time last week. Ethereum


Ethereum (ETH) continues to trade above the $1,800 level, with traders still targeting a breakout above a key resistance level.


ETH/USD rose to a high of $1,819.29 earlier in today’s session, which comes after an earlier bottom at $1,765.52.


As a result of today’s jump, ethereum bulls attempted to move towards a ceiling at $1,825, however momentum has since eased. Ethereum chart by TradingView



This comes as earlier bulls seemingly abandoned their positions as the RSI ran into a wall at the 60.00 level.


At the time of writing, price strength is now at the 57.77 mark, with the next visible ceiling around the 62.00 region.


In addition to this, the 10-day (red) moving average is now nearing a downward cross with its 25-day (blue) counterpart, which could signal upcoming price weakness.


Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, Bitcoin, BTC, ETH, Ethereum


Could ethereum hit $2,000 in April? Leave your thoughts in the comments below. Eliman Dambell


Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Biggest Movers: ADA Snaps Losing Streak as BCH Moves to 10-Day High MARKET UPDATES | 8 hours ago Biggest Movers: DOGE Hits 9-Day High, as LTC Climbs 6% on Saturday MARKET UPDATES | 2 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleWorldcoin Launches World ID, an AI Resistant, Iris Dependant ID Protocol Next articleBitKeep and Bitget: Missed out on the $ARB Airdrop? Here’s a Chance to Qualify for the Exclusive “KEY” NFT Airdrop! Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days


Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether

News Feed

And Satoshi’s True Identity is…
Who is Satoshi Nakamoto? More importantly, does it really matter? | Source: PixabayWho is Satoshi Nakamoto?The identity of the enigmatic pers
Bitcoin Slides Over 13%, Veteran Trader Peter Brandt Suggests BTC Will Peak at $200k but Hints of Possible Deep Corrections
Bitcoin Slides Over 13%, Veteran Trader Peter Brandt Suggests BTC Will Peak at $200k but Hints of Possible Deep Corrections Veteran trader Peter Brandt has impli
Kosovo Halts Cryptocurrency Mining Amid Energy Crisis
Kosovo Halts Cryptocurrency Mining Amid Energy Crisis The government of Kosovo has decided to suspend crypto mining activities in the country as part of measures to deal with power
DeFi is ‘waking up again’ — Active loans return to 2022 levels
Martin Young3 hours agoDeFi is ‘waking up again’ — Active loans return to 2022 levelsDeFi lending and total value locked are recovering, but many related tokens are still at bear market lows.875 Total views2 Total
Zhiyuan Sun6 hours agoAvalanche blockchain explorer to shut down as Etherscan fees draw controversyAnnual subscription fees for Etherscan"s EaaS service has reportedly grown to $2 million per year.1494 Total views7 Total
Best ERC-20 Tokens to Buy as Ethereum Nears Huge Pectra Upgrade
Este artículo también está disponible en español. Ethereum is preparing for a Pectra update which will revolutionize institutional staking on the blockchain, potentially
Undeterred by Fears of a Banking Crisis, ECB Raises Interest Rates by 50bps
Undeterred by Fears of a Banking Crisis, ECB Raises Interest Rates by 50bps The European Central Bank (ECB) has convened to raise three of its key interest rates by 50bps (0.5%), f
Bitcoin Price Likely To Fluctuate Between $100,000 And $110,000 Until FOMC Meeting, Says Analyst
Este artículo también está disponible en español. After a flash crash to $89,256 earlier this month, Bitcoin (BTC) made a swift recovery, reaching a new all-time high (AT
Turner Wright5 hours agoProsecutors will still consider Sam Bankman-Fried’s alleged campaign finance scheme at trialRather than reinstating a count on campaign finance violations to SBF’s indictment, the Justice Depa
Ukraine President Zelensky Returns Law ‘On Virtual Assets’ to Parliament
Ukraine President Zelensky Returns Law ‘On Virtual Assets’ to Parliament The Ukrainian president has sent the recently adopted law “On Virtual Assets” back to the
Turner Wright6 hours agoBlackRock met with SEC officials to discuss spot Bitcoin ETFRepresentatives from the U.S. Securities and Exchange Commission also met with Grayscale on Nov. 20 in the asset manager’s bid for lis
Ezra Reguerra26 minutes agoGaming DAO warns users of fake airdrops amid social media hacksThe decentralized game publisher said its team had witnessed a significant rise in phishing attempts within its community and in t