BTC Approaches $29,000 To Start April As ETH Also Returns – Markets & Prices Bitcoin News
Bitcoin was back in the green on Saturday, as prices moved near the $29,000 level to start the weekend. After a volatile session on Friday, cryptocurrency markets were mostly higher heading into April. Ethereum moved back above the $1,800 level.
Bitcoin
Bitcoin (BTC) rallied towards $29,000 on Saturday, as markets continued to react to yesterday’s US personal consumption expenditure (PCE) data.
PCE climbed to 0.3% in March, less than the 0.4% markets expected, showing that inflation was easing.
BTC/USD rose to an intraday high of $28,802.46 earlier in today’s session, which comes a day after trading at a low of $27,854.63.
Looking at the chart, BTC had a short break at a long-term resistance level of $28,500.
Earlier gains have since been pared, which comes as the 14-day relative strength index (RSI) failed to move above a ceiling of 65.00.
At the time of writing, the index is now tracking 63.65, with a floor of 62.00 a possible target for sellers.
Ethereum
Ethereum (ETH) was also higher to start the weekend, with prices once again climbing above the $1,800 level.
After a low of $1,789.76 on Friday, ETH/USD rallied to a high of $1,844.68 earlier in today’s session.
As a result of the move, the world’s second largest cryptocurrency jumped over a cap in the $1,825 zone.
From the chart, this apparently coincided with the RSI breaking away from its own resistance at 59.00.
At the time of writing, price strength is now at the 60.15 mark, with the next visible ceiling around the 62.00 region.
Should the RSI move closer to this point, ethereum bulls will send prices towards a long-term target of $1,900.
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Do you expect Ethereum to reach $2000 in April? Leave your thoughts in the comments below.
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