Bitcoin, Ethereum teknisk analys: ETH Nears $1,700, Fed Prepared to Maintain Rate Hikes

Ethereum closed in on the $1,700 level on Wednesday, as markets reacted to comments from U.S. Federal Reserve Chair Jerome Powell. Speaking after Tuesday’s session, Powell hinted that the Fed could continue to hike rates, should the data show the need for action. Bitcoin was also boosted by the news, climbing back into the $23,000 område.

Bitcoin

Bitcoin (BTC) moved higher on Wednesday, following comments from Federal Reserve Chair Jerome Powell.

Speaking yesterday, Powell stated, “The reality is we’re going to react to the data. So if we continue to get, for example, strong labor market reports or higher inflation reports, it may well be the case that we have to do more and raise rates more than is priced in.”

BTC/USD steg till en hög intradag på $23,367.96 tidigare idag, mindre än 24 hours after hitting a low of $22,781.95.

Tittar på diagrammet, the move pushed bitcoin to its strongest point in four days, and came as the 14-day relative strength index (RSI) ran into a ceiling.

The index rose to a ceiling at 65.00, however momentum was not strong enough to break out of this point.

När jag skrev, indexet följer kl 62.92, med BTC falling from earlier highs, and currently trading at $23,195.36.

Ethereum

Ethereum (ETH) extended recent gains today, with prices breaking out of a key resistance point in the process.

Efter en låg av $1,628.67 på tisdag, ETH/USD jumped to a peak of $1,688.53 during the hump-day session.

As a result of today’s gains, the world’s second largest cryptocurrency climbed past a resistance level at $1,675.

Similar to bitcoin, this move pushed ETH to its highest point since Saturday, with the RSI also hitting a four-day peak.

I skrivande stund, the index is at a reading of 62.97, which is slightly below a ceiling at 64.00.

ETH bulls will likely attempt to break this resistance in the coming days, which will inevitably mean prices move back above $1,700.

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Elijah Dambell

Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. För närvarande, he acts as a commentator across various asset classes, including Crypto, Aktier och valuta, whilst also a startup founder.

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