{"id":19515,"date":"2023-04-05T13:26:54","date_gmt":"2023-04-05T13:26:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-moves-above-28500-as-eth-nears-2000-market-updates-bitcoin-news\/"},"modified":"2023-04-05T13:26:54","modified_gmt":"2023-04-05T13:26:54","slug":"btc-moves-above-28500-as-eth-nears-2000-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-moves-above-28500-as-eth-nears-2000-market-updates-bitcoin-news\/","title":{"rendered":"BTC Moves Above $28,500 as ETH Nears $2,000 \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin broke out of a resistance level of $28,500 on April 5, as crypto markets continued to react to economic data from the United States. Job openings in the U.S. fell below 10 million for the first time since 2021, which comes as employers began to reduce hiring efforts. Ethereum moved closer to $2,000, hitting a fresh eight-month high today.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) broke out of a key resistance level on Wednesday, with traders now targeting a move beyond the $29,000 mark.<\/p>\n

Following a low of $27,979.75 on Tuesday, BTC<\/a>\/USD moved to an intraday high of $28,739.24 earlier in today\u2019s session.<\/p>\n

The move saw bitcoin climb above a recent ceiling of $28,500, hitting a four-day high in the process.<\/p>\n

Overall, it appears that the move occurred once the relative strength index (RSI) bounced from a recent floor at 58.<\/p>\n

As of writing, the index is tracking at 62.48, with the next visible ceiling of 65.00 a possible target for bulls.<\/p>\n

There is a strong possibility that BTC<\/a> will be above $29,000 if and when this resistance point is hit.<\/p>\n

Ethereum<\/h2>\n

In addition to BTC<\/a>, ethereum (ETH<\/a>) was also in the green, with prices climbing to a fresh eight-month high.<\/p>\n

ETH<\/a>\/USD moved to a high of $1,921.27 earlier in the day, which comes a day after trading at a low of $1,855.37.<\/p>\n

As a result of this rally, ethereum went back to its strongest point since August 17, when price hit a peak of $1,957.<\/p>\n

This latest surge has pushed price strength to a current reading of 65.87, which is marginally below a ceiling at 66.00.<\/p>\n

Due to this, some earlier bulls have moved to take profits, which has led to ETH<\/a> falling from the day\u2019s high.<\/p>\n

At the time of writing, ethereum is trading at $1,915.88.<\/p>\n

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

What is behind today\u2019s surge in ethereum? 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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