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On February 27, BTC made a consolidation below the $24,000 mark as the cryptocurrency markets got ready for a significant week of economic data. The United States will report its durable goods orders later today, and consumer confidence data will be revealed on Tuesday. After breaking out on Sunday, ether prices increased again above $1,600.
Bitcoin
Today’s session of Bitcoin (BTC) has primarily seen consolidation as markets get ready for a significant week of economic activity data from the United States.
BTC/USD reached an intraday high of $23,654.37 earlier in today’s session, up from a low of $23,165.23 on Sunday.
The move was made after bitcoin bulls pushed the price higher after breaking through the $23,000 mark on Saturday.
The largest cryptocurrency in the world is currently trading at $23,408.54 after slightly declining since achieving the day’s top.
This appeared to occur when the 14-day relative strength index (RSI) failed to overcome a resistance level of 53.00.
The index is currently tracking at a reading of 51.95, with the next visible point of support at 50.00.
Ethereum
On the other hand, Ethereum (ETH) prices have risen back above $1,600, signalling a bullish week so far.
ETH/USD rose to a high of $1,645.91 earlier in the day after falling to a low of $1,597.21 on Sunday.
After hitting a low of $1,557 to start the weekend, prices had mainly risen over the last four days.
The RSI hit a wall at the 54.00 point, similar to what happened with bitcoin, and earlier advances have slowed.
The price strength has decreased after this collision; ETH is presently trading at $1,638.06, while the RSI is monitoring at 53.04.
In order to rise past the 54.00 ceiling, ETH bulls would need to have their sights set on bringing the price back up to $1,700.
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