Monday, May 29, 2023

On Saturday, the value of Bitcoin started to increase and moved close to $29,000. After an unpredictable session on Friday, most digital currencies increased in April. The value of Ethereum was also higher than $1,800.

US PCE Figures Push Bitcoin Prices Higher

Yesterday, the US released some financial information called “personal consumption expenditure” (PCE). This number was less than expected, which means that inflation is getting slower.

On Saturday, this news caused Bitcoin (BTC) prices to rise high. At one point, it went as high as $28,802.46, up from a low of $27,854.63 the day before.

The chart shows that BTC went up to a high of $28,500 and successfully passed a long-term resistance level. But since then, the price has gone down and isn’t going any higher than 65.00 on the Relative Strength Index (RSI). Currently, it’s at 63.65 which might lead it down to 62.00 if sellers get their way.

Ethereum Breaks Free of a Ceiling, Could Reach $1,900 Soon!

This weekend, Ethereum (ETH) experienced a price surge. Its value jumped from $1,789.76 on Friday to as high as $1,844.68 earlier today. This meant that it broke free of a ceiling at the $1,825 zone and the chart showed this with the RSI getting past 59.00.

Right now, Ethereum prices are at $60.15, with the next highest price reaching up to $62.00. If the RSI level moves closer to this amount, it could help ethereum jump to a goal of $1,900 in the future. Sign up for our email list and get weekly updates about changes in Ethereum’s prices! Do you think that Ethereum will reach its goal of $2,000 in April? Let us know in the comments section below!


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