The largest cryptocurrency fights to keep support at $28,000 intact at the start of the new week after breaking out to a 10-month high of $29,216 in March. Bitcoin and Ethereum are the two best-performing assets across global markets even as regulators battled to mitigate the effects of the banking crisis in the United States and Switzerland.<\/p>\n
Bitcoin price is trading at $27,800 at the time of writing, after printing two consecutive bearish candles on the four-hour chart. With support at $28,000 no longer viable at the moment, bulls could be looking at $27,730 to tap into the liquidity provided by the 100-day Exponential Moving Average (EMA).<\/p>\n
In other words, failure to keep the price above $28,000 on Monday may have forced buyers to resolve to wait for a lower price level, before jumping in and pushing for the much-anticipated climb above $30,000.<\/p>\n
The performance Bitcoin<\/a> put out in March was remarkable, to say the least. As the banking crisis in the US wreaked havoc in other global markets, Bitcoin not only held its cool, it gained over 24% in value.<\/p>\n Experts believe that Bitcoin has over the years matured to be considered a reliable hedge against some uncertainties in the traditional financial sector.<\/p>\n The second-largest crypto Ethereum continues to follow closely in Bitcoin’s footsteps amid predictions of a run up to $3,000 as soon as the psychological resistance at $2,000.<\/p>\n According to Captain Faibik, a popular analyst with about 54k followers on Twitter, “a weekly close above $29k will open the doors for a rally to $38k” citing the challenges bulls are facing when “struggling to retain the 29k S\/R crucial level.”<\/p>\n $BTC<\/a> Bulls have been Struggling to Regain the 29k S\/R Crucial Level..!!<\/p>\n A weekly Close above 29k will open the Doors for a Rally to 38k 📈#Crypto<\/a> #Bitcoin<\/a> #BTC<\/a> #BTCUSD<\/a> pic.twitter.com\/XxeYgElvaY<\/a><\/p>\n — Captain Faibik (@CryptoFaibik) April 3, 2023<\/a><\/p><\/blockquote>\n\n