{"id":19853,"date":"2023-04-14T13:37:37","date_gmt":"2023-04-14T13:37:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-nears-31000-as-eth-hits-11-month-high-market-updates-bitcoin-news\/"},"modified":"2023-04-14T13:37:37","modified_gmt":"2023-04-14T13:37:37","slug":"btc-nears-31000-as-eth-hits-11-month-high-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-nears-31000-as-eth-hits-11-month-high-market-updates-bitcoin-news\/","title":{"rendered":"BTC Nears $31,000, as ETH Hits 11-Month High \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin moved towards the $31,000 mark on Friday, ahead of upcoming retail sales data from the United States. Sales are expected to remain flat, whilst overall consumer sentiment is forecasted to rise to 62.7, from a reading of 62.0. Ethereum extended recent gains, hitting an eleven-month high in the process.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) was once again in the green on Friday, as traders pushed the price close to the $31,000 mark.<\/p>\n

BTC<\/a>\/USD raced to a peak of $30,848.46 earlier in today\u2019s session, a day after trading at a low of $30,160.59.<\/p>\n

The move has resulted in bitcoin hitting its strongest point since June 7, when it hit a peak of $31,549.<\/p>\n

Overall, this recent surge in momentum has sent the relative strength index (RSI) deep into overbought territory.<\/p>\n

At the time of writing, the index is tracking at 72.18, which is marginally higher than a peak at 72.<\/p>\n

Should the index move above a reading of 73.00, then it is very likely that BTC<\/a> will be trading beyond $31,000.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>) continued to climb higher, following its recent Shapella update, with price surging above $2,100.<\/p>\n

Following a low of $1,987.05 on Thursday, ETH<\/a>\/USD moved to a peak of $2,126.32 earlier in today\u2019s session.<\/p>\n

As a result of today\u2019s surge in price, the world\u2019s second largest cryptocurrency hit its highest level since last May.<\/p>\n

The latest rally took place as bulls broke out of a key resistance level of $2,030, with the RSI crossing a hurdle of its own at the 72.00 mark.<\/p>\n

Like with BTC<\/a>, ETH<\/a>\u2019s RSI is also overbought, with the index at a reading of 75.29 at the time of writing.<\/p>\n

A higher ceiling at 80.00 now awaits current bulls in the market.<\/p>\n

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

Is there a chance ethereum can hit $3,000 in April? 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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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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