{"id":17864,"date":"2023-02-20T13:41:31","date_gmt":"2023-02-20T13:41:31","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-hits-25000-following-moving-average-death-cross-market-updates-bitcoin-news\/"},"modified":"2023-02-20T13:41:31","modified_gmt":"2023-02-20T13:41:31","slug":"bitcoin-hits-25000-following-moving-average-death-cross-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-hits-25000-following-moving-average-death-cross-market-updates-bitcoin-news\/","title":{"rendered":"Bitcoin Hits $25,000, Following Moving Average ‘Death’ Cross \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin was hovering close to $25,000 on Feb. 20, as cryptocurrency markets traded close to recent highs. Markets started the week partially in the green, ahead of a key week of economic data. The United States FOMC (Federal Open Market Committee) will release its latest minutes on Wednesday, followed by U.S. gross domestic product data on Thursday. Ethereum continues to trade above $1,700 today.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) remained close to the $25,000 level to start the week, as market sentiment shifted towards bulls.<\/p>\n

Following a high of $25,093.06 on Sunday, BTC<\/a>\/USD is currently trading at $24,909.03 at the time of writing.<\/p>\n

Monday\u2019s move comes as prices bounced from a recent support point at $24,200, and now appear to be on course for a ceiling $1,000 away.<\/p>\n

\"Bitcoin,
BTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Overall, the catalyst of this surge appears to be the 10-day (red) moving average, which crossed its 25-day (blue) counterpart over the weekend, in a move known as a \u201cdeath cross.\u201d<\/p>\n

In addition to this, the relative strength index (RSI) once again moved beyond a resistance point at 64.00.<\/p>\n

As of writing, the index is currently tracking at 65.88, which is marginally below a hurdle at 66.00, and this could be a reason why BTC<\/a> has fallen from earlier highs.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>) has mostly traded higher in the past 24 hours, with prices remaining above $1,700.<\/p>\n

ETH<\/a>\/USD moved to a peak of $1,718.95 earlier in the day, which comes after falling to a low of $1,659.30 on Sunday.<\/p>\n

Like with bitcoin, the gain took place as prices bounced from a recent floor \u2014 on this occasion the $1,675 mark.<\/p>\n

\"Bitcoin,
ETH<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

An upwards crossover of moving averages has also occurred in today\u2019s session, which is usually a sign of a change in market momentum.<\/p>\n

Should this be the case, then there is a strong possibility that ethereum bulls could target $1,800, which hasn\u2019t been hit since September.<\/p>\n

In order to potentially move towards this level, an upcoming hurdle of 67.00 on the RSI indicator must first be overcome.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Could ethereum hit $1,800 before the end of the week? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: 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<\/a> 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.<\/p>\n<\/div>\n

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