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
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.
– Advertisement –
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.
– Advertisement –
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
– Advertisement –
As of writing, the index is currently tracking a reading of 51.95, with the next visible support point at 50.00.
Ethereum
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.
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.
Register your email to receive weekly price analysis updates sent to your inbox:
Can Ethereum climb above $1,700 in the coming days? Leave your thoughts in the comments below.
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.
