Bitcoin and Ethereum Bullish Technical Analysis: BTC Reaches 9-Month High, ETH Breaks $1,700

21

Tuesday night Bitcoin’s value rose above $26,000, which was the highest it had been in nine months. That number has since dropped a bit but people still feel like its worth is going to keep climbing. After the latest report on inflation came out, consumer prices dropped by 6%, causing Ethereum to go up to over $1,700.

BTC Price Fall After U.S. inflation report

The value of Bitcoin (BTC) dropped on Wednesday after it went up the day before following news about U.S. inflation. At this time, BTC is worth $24,858.50 and had risen as high as $26,514.72 earlier in the week – its greatest price since June 13 when it was over $26,600! Unfortunately, these gains have now gone back down due to a technical thing called RSI nearing 65.00

Right now, the index value is at 63.07, but it’s still rising and the 10-day (red) moving average is pointing to an increase. If we hit 65.00 then there could be a chance for prices to go up even more to a resistance level of 28,000$!

Ethereum Reaches Highest Point in Seven Months

Yesterday, Ethereum (ETH) had a really good day and hit its highest point in seven months. Ethereum’s value went as high as $1,779.92 which was way above Tuesday’s lowest point of $1,668.69. ETH created a new milestone by breaking out from the ceiling of $1,750 but it soon fell down after hitting the 62.00 level on the RSI measurements.

Right now, the index number is 57.21 and ethereum is getting stronger from yesterday. It might go down to 55.00 if things continue in the same direction in the coming days. If you want more updates on prices, put your email address here for weekly emails about price analysis. People are wondering if ethereum will grow up to 1800$ this week – read others’ opinions and leave your own thoughts down below! Lastly, don’t forget to check out the pictures that show off all of these points!