Solana hit a six-week high on Wednesday as markets reacted to the latest U.S. inflation numbers.The consumer price index (CPI) fell to 5% in March, lower than the 5.2% total many had expected It was also lower than the 5.2% total many had expected. The Ethereum Classic also rose, approaching multi-week highs.
Solana (SOL)
Solana (SOL) extended yesterday’s 15% gain on Wednesday as the token rose for a fourth straight session.
SOL/USD rose to an intraday high of $24.34 earlier today’s session, a day after prices were at a low of $22.42.
Today’s surge has made SOL the most bullish since it traded as high as $24.71 on February 21.
The chart shows that Wednesday’s rally took the solanable a token above the key resistance level of $24.00.
One of the catalysts for this breakout was the 14-day Relative Strength Index (RSI) crossing its own ceiling at 64.00.
As of this writing, the index is at 66.65, just below the upper resistance level of 68.00.
Ethereum Classic (ETC)
Ethereum Classic (ETC) continued to trade in the green in today’s session as prices hit multi-month highs.
Following a low of $20.75 on Tuesday,ETC/USD has moved to a high of $22.18 at the time of writing.
Today’s move followed a breakout above the $21.50 ceiling as the Ethereum Classic rose to its highest level since March 18.
As with solana, this resulted in price strength moving past its own obstacle and is now tracking slightly below another hurdle at the 64.00 mark.
If it finds a way through this resistance point,is likely; ETCwill head to $23.00.
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