by • Bitcoin briefly surged to a nine-month high late on Tuesday, as prices moved above the $26,000 mark.
• Ethereum also moved higher in the last 24-hours, hitting a seven-month high in the process.
• Consumer prices fell to 6% last month, with ethereum climbing above $1,700 as a result.
Bitcoin and Ethereum Technical Analysis
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.
The 14-day relative strength index (RSI) is currently tracking at 63.07 and 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
