Bitcoin, Ethereum Technical Analysis: BTC Sees Strong Rebound, as Biden Holds Debt Ceiling Talks

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Bitcoin rebounded on Thursday, as markets responded to news that U.S. President Joe Biden held positive talks regarding the debt ceiling. Biden reportedly met with Republican House Speaker Kevin McCarthy, in a bid to find an agreement. Ethereum also rose, moving back above $1,800.

Bitcoin

Bitcoin (BTC) rebounded in today’s session, following news that Joe Biden had held positive talks with U.S. House Speaker Kevin McCarthy, in regards to the debt ceiling.

Following a low of $26,600.14 on Wednesday, BTC/USD raced to an intraday peak of $27,465.93 earlier in the day.

The move saw bitcoin once again climb above a key level of resistance at the $27,300 mark, after a recent breakout.

Looking at the chart, the surge also coincided with the 14-day relative strength index (RSI) moving beyond a ceiling at 42.00.

As of writing, price strength is tracking at 44.58, and seems to be heading close to a higher resistance zone of 49.00.

In the event bulls take the index towards this point, there is a reasonable chance that BTC will move to $28,000.

Ethereum

Additionally, ethereum (ETH) also trended higher, racing back over the $1,800 level in today’s session.

ETH/USD hit a high of $1,834.27 earlier today, which comes less than 24 hours after falling to a bottom at $1,786.67.

This has resulted in the world’s second largest cryptocurrency bouncing from a support point at the $1,790 mark.

However, unlike bitcoin, the RSI on ethereum has still yet to move beyond its own resistance, which is at the 47.00 mark.

Price strength is currently at the 45.10 level, and should it cross the line of 47.00, more bulls will likely reenter the market.

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pepe
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kaspa
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fetch-ai
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ethena-usde
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aptos
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stellar
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monero
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blockstack
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maker
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render-token
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vechain
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okb
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cosmos
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filecoin
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crypto-com-chain
Cronos (CRO) $ 0.094392
mantle
Mantle (MNT) $ 0.773985
arbitrum
Arbitrum (ARB) $ 0.76263
injective-protocol
Injective (INJ) $ 23.75
immutable-x
Immutable (IMX) $ 1.49
dogwifcoin
dogwifhat (WIF) $ 2.26
sui
Sui (SUI) $ 0.870738
bittensor
Bittensor (TAO) $ 295.99
the-graph
The Graph (GRT) $ 0.214438
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,510.33
optimism
Optimism (OP) $ 1.82
first-digital-usd
First Digital USD (FDUSD) $ 1.00
bonk
Bonk (BONK) $ 0.000028
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,874.74
arweave
Arweave (AR) $ 28.70
floki
FLOKI (FLOKI) $ 0.000187
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,597.58
notcoin
Notcoin (NOT) $ 0.016357
lido-dao
Lido DAO (LDO) $ 1.81
ondo-finance
Ondo (ONDO) $ 1.10
aave
Aave (AAVE) $ 104.13
theta-token
Theta Network (THETA) $ 1.53
bitget-token
Bitget Token (BGB) $ 1.08
jasmycoin
JasmyCoin (JASMY) $ 0.030419
fantom
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whitebit
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based-brett
Brett (BRETT) $ 0.140366
thorchain
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algorand
Algorand (ALGO) $ 0.159955
celestia
Celestia (TIA) $ 6.61
pyth-network
Pyth Network (PYTH) $ 0.345322
jupiter-exchange-solana
Jupiter (JUP) $ 0.888734
coredaoorg
Core (CORE) $ 1.32
ether-fi-staked-eth
ether.fi Staked ETH (EETH) $ 3,440.33
quant-network
Quant (QNT) $ 79.86
mantra-dao
MANTRA (OM) $ 1.36
sei-network
Sei (SEI) $ 0.358784
gatechain-token
Gate (GT) $ 7.73
elrond-erd-2
MultiversX (EGLD) $ 35.57
flow
Flow (FLOW) $ 0.619297
kucoin-shares
KuCoin (KCS) $ 9.72
flare-networks
Flare (FLR) $ 0.020962
gala
GALA (GALA) $ 0.02437
eos
EOS (EOS) $ 0.598547
bittorrent
BitTorrent (BTT) $ 0.00000091594541
beam-2
Beam (BEAM) $ 0.017572
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 3,525.12
axie-infinity
Axie Infinity (AXS) $ 5.98
bitcoin-sv
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ethereum-name-service
Ethereum Name Service (ENS) $ 27.41
dydx-chain
dYdX (DYDX) $ 1.42
tokenize-xchange
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akash-network
Akash Network (AKT) $ 3.56
msol
Marinade Staked SOL (MSOL) $ 190.44
popcat
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tezos
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neo
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ethena
Ethena (ENA) $ 0.466991