BTC, ETH Verlängeren Gewënn No US Inflatioun Bericht

Bitcoin traded above $22,000 on Feb. 15, as markets continue to react to the latest U.S. inflation report. The consumer price index rose 0.5% in January, following a gain of 0.1% the month prior. Overall, the annual rate of inflation came in at 6.4%, which, although lower than December’s sum of 6.5%, was higher than the expected 6.2%. Ethereum also rallied on hump-day.

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Bitcoin (BTC) remained above $22,000 on Wednesday, with traders continuing to digest the latest inflation report in the United States.

No engem Minimum vun $ 21,632.39 en Dënschdeg, BTC/USD klëmmt op en intraday Peak vun $22,293.14 fréier haut.

Today’s move pushes the world’s largest cryptocurrency back towards a key resistance level of $22,500.

Looking at the chart, the 14-day relative strength index (RSI) also appears to be edging closer to a ceiling of its own at 60.00

As of writing, price strength is currently at a reading of 51.96, which is its strongest point in the last seven days.

Should this momentum be maintained, there is a strong possibility that BTC could not only break $22,500, but could also collide with the $23,000 mark.

Ethereum

Ethereum (ENG)ETH) was also in the green in today’s session, as prices broke out of a recent point of resistance.

ETH/USD huet en Héichpunkt vun $ 1,562.03 fréier am Dag erreecht, wat manner wéi 24 Stonnen nom Handel bei engem Enn vun $ 1,501.80 kënnt.

As a result of this move, ethereum briefly broke out of a price ceiling at $1,550, after bouncing off a floor of $1,505.

Virdrun Gewënn hunn e bësse erliichtert, mat ETH now trading at $1,557.25, which is marginally higher than the aforementioned ceiling.

At the time of writing, the RSI is hovering at 49.86, which is below a ceiling of its own at 50.00.

In order for ethereum bulls to head back towards the $1,600 mark, this ceiling will first need to be broken.

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Do you expect further rallies in price now that the inflation report has been released? Leave your thoughts in the comments below.

Eliman Dambell

Eliman bréngt en eklektesche Siicht op d'Maartanalyse. Hie war virdru e Brokeragedirekter an Online Handelspädagog. De Moment handelt hien als Kommentator iwwer verschidde Verméigenklassen, dorënner Crypto, Aktien a FX, wärend och e Startup Grënner.