Skip to main content

Bitcoin Ethereum Technical Analysis: BTC Rebounds Ahead of US Consumer Confidence Report

BTC Rebounds Ahead on U.S. Consumer Confidence Report 

After a three-day losing streak, bitcoin rebounded on Tuesday, ahead of the upcoming consumer confidence report in the United States. Price briefly fell below the $30,000 level earlier in the session, however bullish momentum has since returned. Ethereum rose above $1,900 for a short period.

Bitcoin

Bitcoin (BTC) rebounded from recent losses on Tuesday, ahead of the upcoming U.S. consumer confidence report.

The Conference Board expects its index to rise to a reading of 104.0 in June, up from 102.3 the month prior.

BTC/USD rose to an intraday high of $30,751.19 on Tuesday, following a low at $29,955.74 to start the week.

The move appears to have occurred as the 14-day relative strength index (RSI) bounced from a support point at 68.00.

As of writing, the index now sits at a reading of 70.17, which is once again in overbought territory.

A barrier at 73.00 is now the next visible ceiling, and unless bulls break out of this point, BTC will likely move back below $30,000.

Ethereum

Ethereum (ETH) briefly rose above the $1,900 level in today’s session, after falling towards a support level of $1,830 on Monday.

Following a low of $1,840.22 to start the week, ETH/USD jumped to a peak at $1,905.36 earlier in the day.

Momentum has since shifted, with the world’s second largest cryptocurrency once again falling below the $1,900 level.

At the time of writing, ETH is trading at $1,881.79, with the RSI marginally below a resistance level of 58.00.

Overall, momentum is bullish, following a recent crossover between the 10-day (red) moving average, and its 25-day (blue) counterpart.

Should this cross mature, there is a good chance that ETH will not only move above $1,900, but closer to $2,000.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect ethereum to reach $2,000 in July? Leave your thoughts in the comments below.



from Bitcoin News https://ift.tt/NpM9K8y
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more