{"id":19979,"date":"2023-04-18T13:42:49","date_gmt":"2023-04-18T13:42:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/eth-back-above-2100-as-btc-rebounds-from-1-week-low-market-updates-bitcoin-news\/"},"modified":"2023-04-18T13:42:49","modified_gmt":"2023-04-18T13:42:49","slug":"eth-back-above-2100-as-btc-rebounds-from-1-week-low-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/eth-back-above-2100-as-btc-rebounds-from-1-week-low-market-updates-bitcoin-news\/","title":{"rendered":"ETH Back Above $2,100, as BTC Rebounds From 1-Week Low \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n\n<\/div>\n

Ethereum moved back above $2,100 on Tuesday, as markets reacted to the latest gross domestic product (GDP) report from China. Chinese GDP rose by 4.5% during the first quarter of the year, higher than the 4% expected. Bitcoin rebounded from earlier losses.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) rebounded from a one-week low on Tuesday, as markets reacted to the latest gross domestic product (GDP) report from China.<\/p>\n

BTC<\/a>\/USD dropped to a low of $29,154.85 earlier in today\u2019s session, before climbing to a peak of $29,944.78 as the day matured.<\/p>\n

The low sent bitcoin to its lowest point since April 10, which is when price was last below $29,000.<\/p>\n

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

Looking at the chart, the rebound has come as the 14-day relative strength index (RSI) bounced from a floor of 59.00.<\/p>\n

Currently, price strength is tracking at the 61.91 mark, with the next visible ceiling at the 65.00 level.<\/p>\n

BTC<\/a> will likely be trading above $30,200 should the RSI reach this upcoming destination.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>) was back above the $2,100 level in today\u2019s session, as the token remains near an eleven-month high.<\/p>\n

Following a low of $2,057.65 to start the week, ETH<\/a>\/USD raced to an intraday high of $2,109.58 earlier in the day.<\/p>\n

Today\u2019s peak is marginally lower than Sunday\u2019s high of $2,142, which is the strongest point that ethereum has hit since last May.<\/p>\n

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

Similar to bitcoin, this rebound took place as the RSI jumped from its own support point at 68.00.<\/p>\n

As of writing, the index is now at the 70.24 mark, with a resistance point at 75.00 a possible destination.<\/p>\n

Should it hit the mark, there is a good chance that ethereum could move over $2,200.<\/p>\n

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

Do you expect that ethereum will surge in the coming days? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

\n
\n\n<\/div>\n
\n
\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.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

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

\n

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

\n