Bitcoin rose to $17,000 on Wednesday . Digest the US Consumer Confidence Report. Consumer confidence plunged to his lowest level since July, even as inflation eased in the world’s largest economy. Ethereum continues to hold high, approaching $1,300.
Bitcoin
Bitcoin (BTC) temporarily closed in today’s session as traders reacted to the latest US Consumer Confidence Report. surpassed $17,000 on
Despite falling to a six-month low, the fall in confidence was weaker than expected and a relatively positive sign for the market.
Following a low of $16,366.66,BTC/USD rose to an intraday peak of $17,021.67 earlier in the day.
However, after breaking above $17,000, this is also a long-term resistance. At levels, some early bulls moved to secure profits, exiting positions in the process.
At the time of writing,BTC Trading at $16,832.07, the 14-day Relative Strength Index (RSI) is tracking 45.72, below the high end of 46.00.
Bitcoin could extend today’s rally if price strength continues in the upside direction and overcomes this coming obstacle.
Ethereum
BTC Similar to, Ethereum (ETH) also rose on Wednesday. Because the price jumped in the second successful session.
ETH/USD peaked at $1,276.55 early in today’s session. This is within 24 hours of trading at the low of $1,205.78.
As a result of today’s rally, the world’s second-largest cryptocurrency hits its highest level since November 15th.
chart, the 10-day (red) moving average is 25-day We are approaching the (blue) moving average and an upward crossover is imminent.
On top of this, the RSI is currently tracking 51.27, which is above his 50.00 mark key resistance level.
ETH‘s bullish target appears to be the $1,300 level last hit on his November 11th when the coin peaked at $1,307.
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