Bitcoin, Ethereum Technical Analysis: BTC Consolidates Near $28,000, as First Citizen Agrees to Acquire Silicon Valley Bank

Bitcoin started the week trading astir the $28,000 mark, arsenic markets reacted to the quality that Silicon Valley Bank was to beryllium acquired. First Citizen Bank agreed to bargain astir $72 cardinal successful SVB assets, astatine a discounted complaint of $16.5 billion. Ethereum continued to commercialized nether $1,800 connected Monday.

Bitcoin

Bitcoin (BTC) started the week trading marginally higher, with prices hovering adjacent the $28,000 level.

Following a bottommost astatine $27,678.15 connected Sunday, BTC/USD moved to a precocious of $28,178.14 earlier successful today’s session.

The determination saw bitcoin borderline towards a caller absorption constituent astatine the $28,300 mark, which was past deed connected Friday.

Overall, BTC has mostly consolidated connected Monday, which comes arsenic the 14-day comparative spot scale (RSI) collided with a ceiling astatine the 65.00 zone.

As of writing, the scale is tracking astatine the 64.51 level, with the adjacent disposable constituent of enactment astatine the 62.00 mark.

Should bulls instrumentality terms spot beneath this point, determination is simply a beardown anticipation that BTC could determination beneath $27,000.

Ethereum

Ethereum (ETH) mostly consolidated connected Monday, arsenic prices moved distant from a cardinal terms level successful today’s session.

ETH/USD jumped to a highest of $1,797.88 earlier successful the day, which comes little than 24 hours aft falling to a debased of $1,748.44.

Since hitting a seven-month precocious of $1,861 past Thursday, the world’s 2nd largest cryptocurrency has mostly traded beneath $1,800.

Overall, ethereum is down 1.19% from the aforesaid constituent past week, with prices mostly moving betwixt a level of $1,730, and a ceiling astatine $1,820.

The 10-day (red) moving mean has present begun to displacement direction, with upwards momentum present fading.

Prices whitethorn proceed to inclination sideways heading into April, unless immoderate unexpected quality moves markets.

Register your email present to get play terms investigation updates sent to your inbox:

Do you expect ethereum to decorativeness the period beneath $1,800? Leave your thoughts successful the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Below the Sky / Shutterstock.com

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.