As the markets entered April, Bitcoin (BTC) and Ethereum (ETH) were both back in the green after some very volatile movements on the previous day. BTC moved back close to the $29,000 level, whereas ETH jumped over the $1,800 zone. With the technical data of both, it is safe to say that the expectations of bullish trends remain in the markets.

Beginning with Bitcoin, the appreciation in its value came after a decline in the United States personal consumption expenditure (PCE). Despite the decline being less than what the markets were expecting, it was still strong enough to push up the value of BTC. Later, in the trading session, BTC crossed the long-term resistance of $28,500 level and hit an intraday high of $28,802.46. Although, the RSI figure failed to move beyond the 65.00 point, it is likely that this will not affect the bullish sentiment due to a floor of 62.50 that could be targetted by the sellers.

Ethereum (ETH) was also successful in crossing the $1,800 level, once again. The uptrend was further supported with the RSI breaking free of the ceiling of 59.00 and moving towards the 60.15 mark. If the continued uptrend is sustained and is successful in reaching the 62.00 region, the bulls may look to take ETH to a target of $1,900.

Overall, with technical data in the favour of both BTC and ETH, there is a strong sentiment of bullishness in the markets. However, profit taking could be observed if the RSI levels do not reach their desired points, leading to some short-term volatility in the market.



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