BTC, ETH edge higher, as markets expect U.S. inflation to fall to 8.1%.
Cryptocurrencies have mostly consolidated ahead of the release, which many believe could trigger further action from the Federal Reserve Bank. Ethereum was also higher, as the token rose above $1,300.The world’s largest cryptocurrency rose to a high of $19,241.96, less than 24 hours after hitting a bottom of $18,925.60.
Today’s move saw the token edge closer to its recent resistance level of $19,300, moving away from a one-week low in the process.Looking at the chart, it can be seen that prices have fallen from earlier highs, and as of writing, sit just above the $19,100 mark. This seems to have come as the 14-day relative strength index nears a collision with a ceiling of 44.55.bulls intend to take prices back above $19,300, the first step would be to overcome this upcoming obstacle.
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