2 years ago
Bitcoin was hovering adjacent to $25,000 connected Feb. 20, arsenic cryptocurrency markets traded adjacent to caller highs. Markets started the week partially successful the green, up of a cardinal week of economical data. The United States FOMC (Federal Open Market Committee) volition merchandise its latest minutes connected Wednesday, followed by U.S. gross home merchandise information connected Thursday. Ethereum continues to commercialized supra $1,700 today.
Bitcoin
Bitcoin (BTC) remained adjacent to the $25,000 level to commencement the week, arsenic marketplace sentiment shifted towards bulls.
Following a precocious of $25,093.06 connected Sunday, BTC/USD is presently trading astatine $24,909.03 astatine the clip of writing.
Monday’s determination comes arsenic prices bounced from a caller enactment constituent astatine $24,200, and present look to beryllium connected people for a ceiling $1,000 away.
BTC/USD – Daily ChartOverall, the catalyst of this surge appears to beryllium the 10-day (red) moving average, which crossed its 25-day (blue) counterpart implicit the weekend, successful a determination known arsenic a “death cross.”
In summation to this, the comparative spot scale (RSI) erstwhile again moved beyond a absorption constituent astatine 64.00.
As of writing, the scale is presently tracking astatine 65.88, which is marginally beneath a hurdle astatine 66.00, and this could beryllium a crushed wherefore BTC has fallen from earlier highs.
Ethereum
Ethereum (ETH) has mostly traded higher successful the past 24 hours, with prices remaining supra $1,700.
ETH/USD moved to a highest of $1,718.95 earlier successful the day, which comes aft falling to a debased of $1,659.30 connected Sunday.
Like with bitcoin, the summation took spot arsenic prices bounced from a caller level — connected this juncture the $1,675 mark.
ETH/USD – Daily ChartAn upwards crossover of moving averages has besides occurred successful today’s session, which is usually a motion of a alteration successful marketplace momentum.
Should this beryllium the case, past determination is simply a beardown anticipation that ethereum bulls could people $1,800, which hasn’t been deed since September.
In bid to perchance determination towards this level, an upcoming hurdle of 67.00 connected the RSI indicator indispensable archetypal beryllium overcome.
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Could ethereum deed $1,800 earlier the extremity of the week? Leave your thoughts successful the comments below.
Eliman Dambell
Eliman brings an eclectic constituent of presumption to marketplace analysis. He was antecedently a brokerage manager and online trading educator. Currently, helium acts arsenic a commentator crossed assorted plus classes, including Crypto, Stocks and FX, whilst besides a startup founder.
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