Bitcoin for a month on December 1st recorded the highest value of Ahead of the latest inflation report in the US on the 13th, consumer prices are expected to fall to 7.3% in November, down 0.4% from the previous month. Ethereum also rose in today’s session as the price approached $1,300.
Bitcoin
Bitcoin (BTC) rose to a one-month high on Tuesday. state. Following week-first lows of $16,966.59,BTC/USD raced to an intraday peak of $17,457.30 early in today’s session.
The move sent the world’s largest cryptocurrency soaring to its highest level since November 11, when the price hit his $17,645 high.
chart, today’s surge occurred as a 14-day relative To do. The Strength Index (RSI) has moved beyond its own upper bound. The
index rose above the 52.00 resistance level earlier in the day and is tracking 55.00 at the time of writing.
Despite this afternoon’s report, more volatility is likely on Wednesday as traders prepare for the upcoming US Federal Reserve interest rate decision.
Ethereum
Ethereum (ETH) also rose in today’s session, with the bulls re-entering the market and the price approaching $1,300.
ETH/USD raced to the high of $1,294.10 in today’s session.
As a result of today’s move,ETH/USD approached the recent resistance level of $1,300. Prices were almost 4% higher than Monday’s peak.
Similar to Bitcoin, Ethereum bullish sentiment hits the 53.00 mark.
At the time of writing, the index is tracking 53.75 and now appears to be moving towards a ceiling of 55.00.
ETH is likely to recapture the $1,300 level, but what happens at that level is a key question for traders.
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