BTC Stabilizes Ahead of Big Financial Information Week – Market Updates Cryptocurrency News

Bitcoin was mostly stable around the $24,000 mark February 27, as the cryptocurrency markets are bracing for a heavy week of financial data. US Durable Goods Orders are expected to be published later in the week, along with Consumer Confidence figures released Tuesday. Ethereum, meanwhile, saw a breakout again Sunday, pushing the price above $1,600.

Bitcoin

Bitcoin (BTC) has seen little movement in this session, with the markets preparing for a huge batch of US financial activity data.

BTC/USD dropped to a low of $23,165.23 on Sunday before rising to an intraday high of $23,654.37.

The bulls have been pushing the price further since breaching the $23,000 threshold on Saturday.

Currently, Bitcoin is trading at $23,408.54, below the day’s high of $23,670.17.

This seems to have occurred when the 14 day Relative Strength Index (RSI) failed to break out of a resistance level of 53.00.

At the time of writing, the index was at 51.95. The next level of support is at 50.00.

Ethereum

Ethereum (ETH) has been mostly bullish over the past week. Prices rose again above $1,600.

USD/ETH, which dropped to $1,597.21 at its lowest on Sunday, rose to a high of $1,645.91 earlier in the day.

Following a dip to $1,557 at the start of the weekend, prices have mostly been on the rise since.

The RSI hit a ceiling at 54.00 on Ethereum, causing the bullish momentum to slow, with the RSI at 53.04 and ETH trading at $1,638.06.

If ETH bulls want to push the price back up to the $1700 mark, the first step will be to break above the 54.00 ceiling.

Join us for weekly market updates by email:

Will Ethereum be able to rally to $1,700 in the coming days? Leave your thoughts in the comment section below.