{"id":20950,"date":"2023-05-15T12:46:26","date_gmt":"2023-05-15T12:46:26","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-rebounds-from-2-month-low-climbing-back-above-27000-market-updates-bitcoin-news\/"},"modified":"2023-05-15T12:46:26","modified_gmt":"2023-05-15T12:46:26","slug":"btc-rebounds-from-2-month-low-climbing-back-above-27000-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-rebounds-from-2-month-low-climbing-back-above-27000-market-updates-bitcoin-news\/","title":{"rendered":"BTC Rebounds From 2-Month Low, Climbing Back Above $27,000 \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin was back in the green on Monday, as prices climbed back above the $27,000 level to start the week. Prices slipped to a two-month low over the weekend, however momentum has marginally shifted. Ethereum was also higher today. <\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) jumped back above the $27,000 level to start the week, as sentiment showed glimpses of shifting after last week\u2019s bear run.<\/p>\n

Following a low of $26,762.25 on Sunday, BTC<\/a>\/USD raced to an intraday peak of $27,521.62 earlier in today\u2019s session.<\/p>\n

The move saw the world\u2019s largest cryptocurrency continue to move away from a floor at $26,500, and a recent two-month low.<\/p>\n

Monday\u2019s rise in price sees bitcoin move higher for a second straight day, breaking out of a ceiling on the relative strength index (RSI) in the process.<\/p>\n

At the time of writing, price strength is now tracking at 43.66, which is marginally above the aforementioned resistance at 43.00.<\/p>\n

Bulls will now likely be looking to reenter the $28,000 level, which was last hit this past Thursday.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>) also made gains to start the week, as it moved beyond the $1,800 mark in today\u2019s session.<\/p>\n

ETH<\/a>\/USD rose to a high of $1,834.94 on Monday, less than 24 hours after falling to a bottom at $1,787.54.<\/p>\n

Similar to BTC<\/a>, today\u2019s move is the second consecutive day ETH<\/a> has risen, and comes following the recent eight-day losing streak.<\/p>\n

This resulted in ethereum dropping to its weakest point since March, however it now appears that momentum has now shifted.<\/p>\n

Price strength on ethereum has also risen, climbing above a key point of resistance at the 44.00 level.<\/p>\n

The index is now tracking at the 45.85 mark, with the next ceiling at the 50.00 level.<\/p>\n

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

Do you expect crypto prices to continue to climb 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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