October 3, 2023

Bitcoin consolidated below the $24,000 level on February 27 as the cryptocurrency market gears up for a big week of economic data. Durable goods orders from the United States will be released later today, with consumer confidence data set for Tuesday. Ethereum bounced back above $1,600 on Sunday after breaking out.


bitcoin (B T c) has been largely in consolidation in today’s session, as markets prepare for a big week of US economic activity data.

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After Sunday’s low of $23,165.23, B T c/USD reached a high of $23,654.37 earlier in today’s session.

The move continues Bitcoin’s rapid climb above the $23,000 level on Saturday.

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Since the day’s peak, the price has declined somewhat, with the world’s largest cryptocurrency currently trading at $23,408.54.

This appears to be the case as the 14-day Relative Strength Index (RSI) failed to break above the 53.00 resistance level

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As of writing, the index is currently tracking a reading of 51.95, with the next visible support point at 50.00.


Ethereum (ETH), on the other hand, started the week mainly bullish, with the price rising above $1,600.

ETH/USD, which fell to a low of $1,597.21 on Sunday, rose to a peak of $1,645.91 earlier in the day.

After falling as low as $1,557 to start the weekend, the price has mostly climbed higher in the past few days.

As with bitcoin, earlier gains have ebbed as the RSI hit a wall at the 54.00 mark.

Since this bump, the RSI is now tracking at 53.04, and price strength has declined. ETH is trading at $1,638.06.

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Needed ETH The bulls intend to take the price back towards the $1,700 mark, the first step in this journey would be to overcome the 54.00 range.

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Can Ethereum climb above $1,700 in the coming days? Leave your thoughts in the comments below.

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