Bitcoin raced to a fresh multi-week high on Wednesday, as markets turned their attention to tomorrow’s U.S. inflation rate report. Thursday’s report is expected to show that consumer prices have fallen to 6.5%, down from 7.1% the month prior. Ethereum also rose marginally higher in the day.
Innehåll
Bitcoin
Bitcoin (BTC) rallied above a key resistance level on Wednesday, ahead of tomorrow’s U.S. inflationsrapport.
Efter en låg av $17,226.64 på tisdag, BTC/USD raced to a peak of $17,493.32 tidigare under dagens pass.
As a result of the move, the world’s largest cryptocurrency climbed to its strongest point since December 15.
Tittar på diagrammet, today’s price surge came as the 14-day relative strength index (RSI) broke out of a resistance point at the 60.00 märke.
För närvarande, indexet följer kl 63.80. This comes as BTC continues to hover around its own ceiling at the $17,400 märke.
In order to move closer to the $18,000 zon, the RSI will first need to move beyond a ceiling of 64.00 on the RSI.
Ethereum
Ethereum (ETH) was also marginally higher in today’s session, with prices continuing to trade below a long-term ceiling
ETH/USD hit a high of $1,342.76 tidigare på dagen, mindre än 24 hours after trading at a low of $1,324.97.
Övergripande, ethereum remains below a resistance point of $1,350, with many expecting prices to move after the release of U.S. inflation figures tomorrow.
As can be seen from the chart, the consolidation below this price ceiling comes as the RSI continues to trade under a hurdle of its own.
Price strength is now tracking at the 68.73 nivå, which is under a point of resistance at the 70.00 märke.
ETH bulls are likely still targeting a move beyond $1,400, i alla fall, in order for this to happen, the RSI level of 70.00 must first be overcome.
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