Bitcoin, Ethereum Technical Analysis: ETH Back Above $2,100, as BTC Rebounds From 1-Week Low
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. Bi...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
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.
BitcoinBitcoin (BTC) rebounded from a one-week low on Tuesday, as markets reacted to the latest gross domestic product (GDP) report from China.
BTC/USD dropped to a low of $29,154.85 earlier in today’s session, before climbing to a peak of $29,944.78 as the day matured.
The low sent bitcoin to its lowest point since April 10, which is when price was last below $29,000.
Looking at the chart, the rebound has come as the 14-day relative strength index (RSI) bounced from a floor of 59.00.
Currently, price strength is tracking at the 61.91 mark, with the next visible ceiling at the 65.00 level.
BTC will likely be trading above $30,200 should the RSI reach this upcoming destination.
EthereumEthereum (ETH) was back above the $2,100 level in today’s session, as the token remains near an eleven-month high.
Following a low of $2,057.65 to start the week, ETH/USD raced to an intraday high of $2,109.58 earlier in the day.
Today’s peak is marginally lower than Sunday’s high of $2,142, which is the strongest point that ethereum has hit since last May.
Similar to bitcoin, this rebound took place as the RSI jumped from its own support point at 68.00.
As of writing, the index is now at the 70.24 mark, with a resistance point at 75.00 a possible destination.
Should it hit the mark, there is a good chance that ethereum could move over $2,200.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect that ethereum will surge in the coming days? 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.
Original source
Read on Bitcoin NewsRelated market context
Bitcoin Price Falls 14% in a Week to $65,000 as Weekend Selling Breaks Friday’s Low
Bitcoin Magazine Bitcoin Price Falls 14% in a Week to $65,000 as Weekend Selling Breaks Friday’s Low Bitcoin price crashed about 1...
Bitcoin ETFs Shed $2.35 Billion in Two Weeks as BlackRock’s Outflow Streak Hits 11
Bitcoin ETF outflows have reached $2.347 billion across the first two completed November trading weeks, leaving a persistent hole...
U.S. Wholesale Inflation Hits 6.5%—What It Means for Bitcoin’s Next Move
Bitcoin’s inflation problem has a fresh complication. U.S. wholesale prices rose 6.5% over the year to October, their fastest annu...
XRP Price Today: $0.98 Support Under Threat Despite Oversold RSI
Deeply oversold indicators suggest a possible relief bounce, but the broader technical structure remains bearish. The XRP price ha...
Bitcoin (BTC) Price Today: $65K Support Under Pressure as Glassnode Maps $60K–$62K Liquidation Cluster
Glassnode’s futures liquidation heat map identifies a concentrated cluster of leveraged long positions between $60,000 and $62,000...
Solana activates Breakpoint mode as its annual conference opens in London
Solana's conference in London highlights its strategic push to bridge traditional finance with crypto, potentially reshaping finan...