Fun

Bitcoin, Ethereum Technical Analysis: BTC Hits 9-Month High, as ETH Moves Above $1,700

News Feed - 2023-03-15 09:03:39

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


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


Currently, the index is tracking at 63.07, however overall momentum remains higher, with the 10-day (red) moving average trending upwards.


Should the ceiling of 65.00 be eventually broken, bulls will likely push BTC to a higher resistance level at $28,000. Ethereum


Ethereum (ETH) also moved higher in the last 24-hours, hitting a seven-month high in the process.


Following a high of $1,779.92 yesterday evening, ETH/USD is now trading at $1,696.20, which is still marginally higher than Tuesday’s low of $1,668.69.


Yesterday’s high saw ethereum climb to its strongest point since last August, breaking out of a ceiling at $1,750 in the process. Ethereum chart by TradingView



Since accomplishing this feat, ETH has since declined, following a collision with the 62.00 level on the RSI.


At the time of writing, the index is now tracking at 57.21, with ethereum bulls continuing to secure yesterday’s gains.


A floor at the 55.00 mark could be a possible target for sellers, should prices continue to decline in the coming days.


Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, Bitcoin, BTC, ETH, Ethereum


Will ethereum move towards $1,800 this week? Leave your thoughts in the comments below. Eliman Dambell


Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin Becomes 12th Largest Asset Worldwide by Valuation, Surpassing Visa MARKET UPDATES | 4 hours ago Biggest Movers: ATOM, SOL Remain Close to Multi-Week Highs, as Markets Consolidate Recent Gains MARKET UPDATES | 8 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleStudy Finds El Salvador Remains One of the Countries Most Interested in Bitcoin Next articleBinance to Restrict Ukrainian Hryvnia Operations Via 2 Payment Providers Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"


The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.Today"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin

News Feed

Indonesia to implement regulatory sandbox for crypto assets
Savannah Fortis13 hours agoIndonesia to implement regulatory sandbox for crypto assetsThe Indonesian financial authorities said that by the beginning of 2025, the government will implement a regulatory sandbox for crypto
Ana Paula Pereira9 hours ago3AC’s Su Zhu arrested in SingaporeSu Zhu was arrested at Singapore Changi Airport while attempting to leave the country after a court granted a committal order.2952 Total views27 Total share
SEC Chair Gensler Asks Staff to Collaborate With CFTC on Regulating Crypto Exchanges
SEC Chair Gensler Asks Staff to Collaborate With CFTC on Regulating Crypto Exchanges The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has asked SEC
NFT Creators Investigated in Israel for Alleged Tax Evasion
NFT Creators Investigated in Israel for Alleged Tax Evasion Israel’s tax authority is after two creators of non-fungible tokens (NFTs) suspected of failing to report almost
XRP price could break out as open interest increases
Zoltan Vardai8 hours agoXRP price could break out as open interest increasesDespite a potential breakout, XRP’s price remains tied to developments regarding the lawsuit between the SEC and Ripple.4378 Total views6 Tota
Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Shiba Inu Grapples With Heavy Bearish Forces: Will Support Levels Hold?
Este artículo también está disponible en español. Shiba Inu finds itself at a critical juncture as bearish momentum intensifies, putting key support levels to the test. W
Tom Blackstone3 hours agoPond0X token launch snafu leads to millions of dollars in lossesInvestors reported they lost up to $2.2 million when the developer of Pond0x allegedly mishandled the token’s launch.1001 Total v
Value Locked in Defi Slips 10% in 4 Days, Ethereum TVL Dominates at 58%
Value Locked in Defi Slips 10% in 4 Days, Ethereum TVL Dominates at 58% Four days ago, the total value locked (TVL) in decentralized finance (defi) was coasting along at $255.84 bi
Turner Wright7 hours agoIndividual charged with money laundering admits to hacking Bitfinex in 2016: ReportThe identity of the hacker or hackers behind an exploit that removed more than 100,000 Bitcoin from Bitfinex in 2
Yashu Gola11 hours agoWhy is Ether (ETH) price up today?Ether’s price is up today, recovering entirely from yesterday’s sell-off amid waning FTX liquidation concerns.29003 Total views201 Total sharesListen to article
Colosseum raises $60M to support Solana’s hackathon teams
Ana Paula Pereira8 hours agoColosseum raises $60M to support Solana’s hackathon teamsThe capital will fund pre-seed investments for teams accepted into Colosseum’s Accelerator program.839 Total views3 Total sharesLis