{"id":19936,"date":"2023-04-17T12:49:07","date_gmt":"2023-04-17T12:49:07","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-moves-below-30000-on-monday-as-us-dollar-rallies-market-updates-bitcoin-news\/"},"modified":"2023-04-17T12:49:07","modified_gmt":"2023-04-17T12:49:07","slug":"btc-moves-below-30000-on-monday-as-us-dollar-rallies-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-moves-below-30000-on-monday-as-us-dollar-rallies-market-updates-bitcoin-news\/","title":{"rendered":"BTC Moves Below $30,000 on Monday, as US Dollar Rallies \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin started the week trading below $30,000, as the U.S. dollar strengthened during Monday\u2019s session. USD\/JPY rose to a one-month high, with the greenback also gaining against the euro and British pound. Ethereum was also lower, falling below $2,100.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) dropped below the $30,000 mark on Monday, as a strong U.S. dollar weakened cryptocurrency markets.<\/p>\n

BTC<\/a>\/USD fell to an intraday low of $29,816.72, which comes less than 24 hours after trading at a high of $30,555.54.<\/p>\n

Monday\u2019s price slippage comes two days after bitcoin rose above $31,000 for the first time since June 7.<\/p>\n

Ultimately, this recent bull run pushed BTC<\/a> into overbought territory, with the relative strength index (RSI) hitting a ceiling of 71.00.<\/p>\n

At the time of writing, the index is tracking at 63.45, with a floor at the 59.00 mark potentially approaching.<\/p>\n

Should price strength continue to move towards this level, there is a good chance that BTC<\/a> will move below a floor at $29,600.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>) mostly consolidated to start the week, as price moved below the $2,100 mark on Monday.<\/p>\n

Following a high of $2,137.45 on Sunday, ETH<\/a>\/USD dropped to a bottom of $2,076.18 earlier in today\u2019s session.<\/p>\n

Monday\u2019s decline sees the world\u2019s second largest cryptocurrency drop from a recent 11-month high.<\/p>\n

Similar to bitcoin, this decline coincided with the 14-day RSI failing to break out of a ceiling, and in this instance it was at the 75.00 mark.<\/p>\n

Despite this, ETH<\/a> remains close to the $2,100 mark, helped by the fact the index is still above its floor at 69.00<\/p>\n

If this point of support were to break, then bears would likely reenter the market.<\/p>\n

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

Could ethereum fall below $2,000 this week? 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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