• Bitcoin (BTC) started the week trading above $28,000 as markets responded to the deepening global banking crisis. Ethereum (ETH) consolidated recent gains during Monday’s session, as prices fell below $1,800.
• Several major G7 central banks took coordinated action to enhance market liquidity in light of Credit Suisse being bought out by rival UBS.
• BTC/USD jumped to an intraday peak of $28,527.72 earlier today while ETH/USD dropped to a bottom at $1,744.86 to start the week.
Bitcoin Above $28K
Bitcoin (BTC) was trading above $28,000 on Monday as cryptocurrencies extended a bull run to start the week. This upward sentiment comes after several major G7 central banks made coordinated moves to enhance market liquidity in light of Credit Suisse being bought out by rival UBS. BTC/USD jumped to an intraday peak of $28,527.72 earlier today and is now at its strongest point since last June with many now anticipating a move above $30,000.
Ethereum Falls Below $1,800
Meanwhile Ethereum (ETH) consolidated its recent gains during Monday’s session and prices fell below $1,800 following a high of $1,843.84 on Sunday. ETH/USD dropped to a bottom at $1,744.86 to start the week as ethereum bulls appeared be securing their gains after ETH rose to its highest point since August 2020.
RSI Overbought for Bitcoin
The rally has sent bitcoin into overbought territory with its 14-day relative strength index (RSI) tracking at 72.73 and next visible point of resistance appearing at 75 .00 should this be hit there is strong chance BTC will be at 30k .
RIS Below Ceiling For Ethereum
On the other hand some attribute etheruem’s decline RSI which fell below longterm ceiling 66 .00 mark ,at time writing index was tracking 63 .74 with floor 62 .00 possible target for bears .
Overall crypto markets had positive start this week with bitcoin showing strong potential break 30k barrier while ethereum consolidating recent gains but still looking bullish all signs pointing more upside coming short term could ethereum hit 2000 and bitcoin 30000 this month ?