Bitcoin, Ethereum Technical Analysis: BTC Hits 9-Month High, as ETH Moves Above $1,700
Bitcoin briefly surged to a nine-month high late on Tuesday, as prices moved above the $26,000 mark. Although prices have since declined, overall sentiment remains bullish following the latest U.S. inflation report. Consumer prices fell to 6% last month, with ethereum climbing above $1,700 as a result.
Bitcoin (BTC) fell from a nine-month high on Wednesday, following yesterday’s post-U.S.-inflation-report rally.
BTC/USD is trading at $24,858.50 at the time of writing, hours after prices surged to a peak of $26,514.72.
Tuesday’s peak saw the world’s largest cryptocurrency hit its strongest point since June 13, when BTC was above $26,600.
Bitcoin chart by TradingView
Earlier gains have since fallen, which comes as a result of the 14-day relative strength index (RSI) nearing a ceiling of 65.00
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