Bitcoin, Ethereum Technical Analysis: BTC Surges Above $27,000 as Bulls Return Ahead of Upcoming FOMC Meeting

8 months ago 172
Bitcoin pushed past   the $27,000 level   connected  Monday, arsenic  markets prepared for the latest Federal Reserve involvement  complaint   decision.

Bitcoin pushed past the $27,000 level connected Monday, arsenic markets prepared for the upcoming Federal Reserve involvement complaint decision. Bullish sentiment was successful afloat unit successful today’s session, contempt the imaginable of yet different complaint hike. Ethereum was besides higher to commencement the week.

Bitcoin

Bitcoin surged to a multi-week precocious connected Monday, arsenic traders began to expect the upcoming Federal Reserve meeting.

BTC/USD rallied to an intraday precocious of $27,222.98 earlier successful today’s session, pursuing a debased of $26,415.52 the time prior.

As a effect of the move, bitcoin climbed to its strongest constituent since August 31, erstwhile terms peaked astatine $27,576.

Despite the emergence successful momentum, bulls whitethorn not beryllium satisfied, and are apt targeting a ceiling astatine the $28,000 mark.

Monday’s summation comes arsenic the comparative spot scale (RSI) jumped past a ceiling of 53.00, and is present residing astatine 58.25.

A absorption level of 60.00 volition apt beryllium the adjacent large people for bulls presently successful the market.

Ethereum

Ethereum (ETH) besides moved higher to commencement the week, arsenic traders rejected a breakout beneath the $1,600 point.

Following a debased of $1,609.96 connected Sunday, ETH/USD roseate to an intraday precocious of $1,653.07 earlier successful the day.

This has resulted successful ethereum surging to its highest constituent successful the past 10 days, closing successful connected a caller absorption of $1,660 successful the process.

Although terms spot successful ETH has besides surpassed an obstacle of its own, it is connected the cusp of colliding with different astatine the 50.00 mark. The scale presently sits astatine a speechmaking of 49.61.

It is apt that a breakout supra this people could pb ETH backmost supra $1,700.

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How would an involvement complaint hike interaction crypto prices? Leave your thoughts successful the comments below.

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