Bitcoin was trading marginally higher on Wednesday, as markets prepared for the upcoming U.S. inflationsrapport. Cryptocurrencies have mostly consolidated ahead of the release, which many believe could trigger further action from the Federal Reserve Bank. Ethereum was also higher, as the token rose above $1,300.
Innehåll
Bitcoin
Following two consecutive days of declines, bitcoin (BTC) was back in the green on Wednesday ahead of the U.S. inflationsrapport.
The world’s largest cryptocurrency rose to a high of $19,241.96, mindre än 24 hours after hitting a bottom of $18,925.60.
Today’s move saw the token edge closer to its recent resistance level of $19,300, moving away from a one-week low in the process.
Tittar på diagrammet, it can be seen that prices have fallen from earlier highs, and as of writing, sit just above the $19,100 märke.
This seems to have come as the 14-day relative strength index (RSI) nears a collision with a ceiling of 44.55.
För närvarande, indexet följer kl 44.35, and should BTC bulls intend to take prices back above $19,300, the first step would be to overcome this upcoming obstacle.
Ethereum
Ethereum (ETH) was also marginally higher in today’s session, as prices rebounded from recent losses.
Efter en låg av $1,272.74 på tisdag, ETH/USD raced to an intraday peak of $1,303.08 tidigare på dagen.
Since breaking out of its $1,275 price floor yesterday, ethereum bulls have reentered the market, with bearish sentiment beginning to fade.
Som sett från diagrammet, the 10-day (red) moving average seems to have crossed over its 25-day (blue) counterpart.
This typically signals the start of a bull run, i alla fall, with the current level of volatility in the market, it is likely that we may see more consolidation.
The RSI, which is currently tracking at 41.45, is moving closer to a ceiling of 42.80, which may be the hurdle that needs to be broken, prior to any further surges.
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