Bitcoin (BTC) tumbled below the $30,000 threshold on Wednesday, reacting to the recent U.S. retail sales report. The sales grew by 0.2% last month, surpassing the projected increase of 0.5%. In contrast, Ethereum (ETH) demonstrated strength, bouncing back over $1,900.
BTC dipped under the $30,000 line on Wednesday, subsequent to the release of the most recent U.S. retail sales figures.
This drop came amidst a five-day streak without any gains, which began shortly after BTC’s approach towards $32,000 last week.
The RSI found a supportive point at the 50.00 level and has resisted surpassing this level up to now.
On Wednesday, Ethereum (ETH) saw a slight dip as it momentarily broke the $1,900 barrier.
ETH/USD fell to a low of $1,878.72 earlier in the day but later registered a high of $1,918.12.
Ethereum chart by TradingView
According to the chart, the RSI seems to be approaching a maximum of 55.00 after today’s rebound, which might push ETH towards a critical price point.
The goal appears to be the $1,930 level, which was last achieved during the weekend trading session.
Should this cap be breached, Ethereum might have a significant opportunity to surge towards $2,000.
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Frequently Asked Questions (FAQs) about Bitcoin and Ethereum Performance
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If Ethereum’s relative strength index continues to climb, the crypto may reach a key price point around $1,930, last seen during the weekend trading. If this ceiling is surpassed, Ethereum might have a good chance of approaching $2,000.
More about Bitcoin and Ethereum Performance
- Bitcoin price history
- Ethereum price history
- U.S. Retail Sales Report
- Technical Analysis Explained
- Understanding the Relative Strength Index – RSI