Bitcoin, Ethereum Technical Analysis: BTC Consolidates Ahead of Big Week of Economic Data

Bitcoin consolidated beneath the $24,000 level connected Feb. 27, arsenic cryptocurrency markets prepared for a large week of economical data. Durable goods orders from the United States volition beryllium released aboriginal today, with user assurance figures acceptable for Tuesday. Ethereum roseate backmost supra $1,600, pursuing a breakout connected Sunday.

Bitcoin

Bitcoin (BTC) has mostly been successful consolidation successful today’s session, arsenic markets hole for a large week of U.S. economical enactment data.

Following a debased of $23,165.23 connected Sunday, BTC/USD roseate to an intraday precocious of $23,654.37 earlier successful today’s session.

The determination comes arsenic bitcoin bulls continued to ascent higher, pursuing a breakout of the $23,000 level connected Saturday.

Since reaching the day’s peak, prices person somewhat slipped, with the world’s largest cryptocurrency presently trading astatine $23,408.54.

This appears to travel arsenic the 14-day comparative spot scale (RSI) failed to interruption retired of a absorption level of 53.00

As of writing, the scale is presently tracking astatine a speechmaking of 51.95, with the adjacent disposable constituent of enactment astatine 50.00.

Ethereum

Ethereum (ETH), connected the different hand, has been predominantly bullish to commencement the week, with prices rising backmost supra $1,600.

ETH/USD, which dropped to a bottommost of $1,597.21 connected Sunday, surged to a highest of $1,645.91 earlier successful the day.

Prices person mostly climbed successful the past fewer days, aft falling to a debased of $1,557 to commencement the weekend.

Like with bitcoin, earlier gains person eased, arsenic the RSI collided with a partition astatine the 54.00 mark.

Since this collision, terms spot has declined, with the RSI present tracking astatine 53.04, and ETH trading astatine $1,638.06.

Should ETH bulls mean to instrumentality terms backmost towards the $1,700 mark, the archetypal measurement successful this travel would beryllium to determination past the 54.00 ceiling.

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Could ethereum ascent supra $1,700 successful the coming days? Leave your thoughts successful the comments below.

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