Bitcoin, Ethereum Technical Analysis: ETH Moves Above $1,800 as BTC Nears $28,000

Ethereum roseate supra $1,800 for the archetypal clip since August, arsenic markets continued to respond to the Fed’s determination to inject $300 cardinal into the economy. This comes pursuing the caller banking crisis, which saw the likes of Silicon Valley Bank collapse. Bitcoin neared $28,000 successful today’s session.

Bitcoin

Bitcoin (BTC) closed successful connected the $28,000 level to commencement the weekend, arsenic markets continued to respond to the Federal Reserve’s determination to pump liquidity into the U.S. economy.

BTC/USD jumped to an intraday precocious of $27,787.81 earlier successful the day, which comes aft falling to a debased of $26,209.29 connected Friday.

As a effect of the move, bitcoin climbed a caller nine-month high, which is its strongest constituent since June 2022.

BTC/USD – Daily Chart

Looking astatine the chart, the surge took spot arsenic the 10-day (red) moving mean crossed its 25-day (blue) counterpart.

In summation to this, the 14-day comparative spot scale (RSI) continues to summation traction, moving deeper into overbought territory.

At the clip of writing, the scale is tracking astatine 72.53, which is the strongest speechmaking for the scale since February 2.

Ethereum

Additionally, ethereum (ETH) continued to ascent higher connected Saturday, arsenic prices surged supra the $1,800 mark.

Following a debased of $1,707.95 connected Friday, ETH/USD raced to a highest of $1,821.31 earlier successful today’s session.

The determination saw the world’s 2nd largest cryptocurrency determination to its highest constituent since August 19.

ETH/USD – Daily Chart

Overall, ethereum is present up astir 27% successful the past 7 days which, similar with BTC, has resulted successful an upward transverse of moving averages.

Additionally, terms spot is present firmly successful bullish territory, with the RSI presently tracking astatine 67.11.

This is somewhat supra a ceiling astatine 67.00, with the adjacent disposable constituent of absorption astatine the 75.00 mark.

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Could ethereum deed $2,000 this month? Leave your thoughts successful the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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