{"id":19345,"date":"2023-03-31T12:43:13","date_gmt":"2023-03-31T12:43:13","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-drops-below-28000-eth-under-1800-market-updates-bitcoin-news\/"},"modified":"2023-03-31T12:43:13","modified_gmt":"2023-03-31T12:43:13","slug":"btc-drops-below-28000-eth-under-1800-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-drops-below-28000-eth-under-1800-market-updates-bitcoin-news\/","title":{"rendered":"BTC Drops Below $28,000, ETH Under $1,800 \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin was once again trading below the $28,000 level on Friday, as markets consolidated ahead of a key day of economic data. The University of Michigan releases its monthly consumer sentiment report, which is expected to come in lower than February\u2019s sum. Ethereum also declined in today\u2019s session.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) fell below the $28,000 level on Friday, as markets consolidated ahead of a key day of economic data.<\/p>\n

BTC<\/a>\/USD slipped to an intraday low of $27,583.72 in today\u2019s session, which comes a day after the price rose to a high of $28,683.53.<\/p>\n

The decline came as traders were unable to sustain a breakout above the $28,500 level, following a nine-month high the day prior.<\/p>\n

Overall, it appears that earlier bulls moved to secure gains, as the 14-day relative strength index (RSI) collided with a ceiling at 65.00.<\/p>\n

As of writing, the index is tracking at the 60.84 level, which is marginally above a lower floor at 59.00.<\/p>\n

BTC<\/a> is now trading at $27,928.58, however there will likely be some movement following this afternoon\u2019s data release.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>) was once again trading below $1,800, as prices failed to breakout from a recent key resistance point.<\/p>\n

Following a high of $1,827.28 on Thursday, ETH<\/a>\/USD fell to an intraday low of $1,766.25 in today\u2019s session.<\/p>\n

Friday\u2019s sell-off transpired as ETH<\/a> bulls were unable to move beyond a long-term ceiling at $1,830.<\/p>\n

The world\u2019s second largest cryptocurrency is now trading at $1,795.69, which seemingly suggests that some bullish sentiment still remains in the market.<\/p>\n

This seems to be a result of price strength failing to drop below a floor at 52.00, and it has since moved to a reading at 57.35.<\/p>\n

Should the RSI surge past the 58.00 mark, which is the next visible point of resistance, then ETH<\/a> will likely be back above $1,800.<\/p>\n

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

Will ethereum start April trading above $1,800? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on 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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