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Bitcoin, Ethereum Technical Analysis: BTC Jumps Back Above $28,000, Following Easter Break

Bitcoin started the week climbing back above $28,000, as markets returned from the Easter holidays. The move saw the world’s largest cryptocurrency briefly break out of a key resistance level of $28,500. Ethereum was als...

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Bitcoin, Ethereum Technical Analysis: BTC Jumps Back Above $28,000, Following Easter Break

Bitcoin started the week climbing back above $28,000, as markets returned from the Easter holidays. The move saw the world’s largest cryptocurrency briefly break out of a key resistance level of $28,500. Ethereum was also higher, as it closed in on the $1,900 level.

Bitcoin


Bitcoin (BTC) was back above $28,000 to start the week, as market sentiment shifted towards the bulls following the Easter break.

BTC/USD rose to a high of $28,532.83 earlier in today’s session, after trading at a low of $27,828.48 the day before.

As a result of the move, BTC/USD marginally moved past a ceiling at $28,500, however momentum has since shifted.

Bitcoin chart by TradingView






Initially, today’s rally came as the 14-day relative strength index (RSI) bounced from a recent floor at 58.00

As of writing, the index is tracking at 61.07, with the next visible point of resistance at the 65.00 mark.

BTC is trading at $28,327.63 at the time of writing.

Ethereum


In addition to BTC, ethereum (ETH) was also higher on Monday, with prices closing in on the $1,900 level.

Following a low of $1,828.78 on Sunday, ETH/USD climbed to a peak of $1,873.06 to start the week.

Today’s jump in price came as bulls re-entered the market, after a brief breakout below a floor at $1,830.

Ethereum chart by TradingView






Earlier gains have since eased, which comes as a result of the RSI nearing a key resistance point of 62.00.

As of writing, price strength is at a reading of 58.83, with the index closing in on a ceiling at 62.00.

Should ETH move beyond this point, it is likely that prices will surge above $1,900.

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Will ethereum continue to move higher this week? Leave your thoughts in the comments below.

Why this matters

This ethereum story adds another data point to the current market tape and is useful when read alongside nearby source coverage.

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