Bitcoin and Ethereum Rebound: 2% Rise Sparks Optimism for U.S. Debt Ceiling Increase

Bitcoin and Ethereum Rebound: 2% Rise Sparks Optimism for U.S. Debt Ceiling Increase

Ethereum (ETH) was once more trading over the $1,800 level, after a brief breakout during Thursday’s session. Prices rose by as much as 2%, as optimism grew that the United States debt ceiling may be increased. Bitcoin (BTC) likewise marginally climbed, moving away from yesterday’s two-week low.


Bitcoin (BTC) (BTC) rose slightly higher on Friday, as prices moved away from a recent two-week low.

Following a low of $25,890.59 on Thursday, BTC/USD rose to a peak at $26,591.52 earlier in the day.

The move saw Bitcoin (BTC) (BTC) once more go up over a level of support at the $26,300 level, which has been in place during the previous few weeks.

Regardless of this latest rebound, BTC remained almost 2 percent lower than at the same point past week. For bulls, a positive sign comes in the form of the 14-day relative strength index (RSI), which failed to break out of a floor at 39.00

Sell Signal Sends Shockwaves Through Bitcoin Market

The last time breakout took place was back on March 10, which led to BTC sliding below the $20,000 mark.


Ethereum (ETH) (ETH) rose back over the $1,800 mark on Friday, after dropping to a multi-week low of its own yesterday.

ETH/USD hit a high of $1,817.16 earlier in today’s session, which comes a day after the price dropped to a bottom at $1,788.29.

Because of  today’s slight rebound, the 10-day (red) moving average is now firmly on the verge of crossing its 25-day (blue) counterpart.

The chances of this occurring come as price strength once more bounced from support at 44.00, leading to a reentry of longstanding bulls.

Cardano Fights Back: ADA Token Not a Security!

As of writing this, the index is now tracking at 46.39, with the following visible resistance level at 51.00.

Should momentum continue to go up, there is a good chance that ETH could hit $1,900 this coming weekend.


Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Follow us

Latest Crypto News

Share via
Share via
Send this to a friend