2023 Trending Crypto: Bitcoin, Ethereum In Upward, Downward Movements

Since January 2023, Bitcoin and Ethereum have seen both upward and downward movements.

Bitcoin started the year at around $20, 000 and has since seen a steady increase, reaching a peak of around $30, 000 in April.

Since then, it has seen a slight decline but is still trading at around $25,000. 

On the other hand, Ethereum started the year around $1000 and has seen a much more volatile price movement.

It reached a peak of around $2000 in April but has since dropped to around $1,500. 

Bitcoin, which had horizontal pricing at the weekend, but could not hold above the $ 29,000 level yesterday, recorded a 4% pullback and fell to $ 27,750.

It started the day with a price above $28,000 in the morning and is currently finding buyers at $28,045.

Based on a new week with a very busy agenda, fluctuations are still being seen in the crypto money market.

In addition to the Federal Reserve (FED) on Wednesday, the European Central Bank on Thursday, and the data on non-farm employment and unemployment on Friday, the news from the banking crises in the USA may also have a positive and negative effect on the course of Bitcoin.

After the FED meeting, we advise you to be careful as Powell is likely to make a hawkish speech against the optimistic pricing in the markets and the expectation of interest rate cuts.

In this sense, the key resistance zones for Bitcoin are $28,300 and $29,350, respectively, while the $27,300 and $26,750 levels are in the support zone. 

After the Shapella (Shangay) update, Ethereum, which rose to the level of $ 2100, later recorded a retreat to the $ 1800 region due to both the selling pressure caused by the opening of the locks and the profit realizations in Bitcoin.

Displaying a sideways-negative outlook over the weekend, Ethereum lost more than 2% yesterday.