{"id":15427,"date":"2022-12-13T16:30:51","date_gmt":"2022-12-13T16:30:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-rallies-to-1-month-high-as-eth-nears-1300-market-updates-bitcoin-news\/"},"modified":"2022-12-13T16:30:51","modified_gmt":"2022-12-13T16:30:51","slug":"btc-rallies-to-1-month-high-as-eth-nears-1300-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-rallies-to-1-month-high-as-eth-nears-1300-market-updates-bitcoin-news\/","title":{"rendered":"BTC Rallies to 1-Month High, as ETH Nears $1,300\u00a0 \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin surged to a one-month high on Dec. 13, ahead of the latest inflation report from the United States. It is expected that consumer prices will fall to 7.3% in November, which would be a drop of 0.4% from the month prior. Ethereum was also higher in today\u2019s session, as prices neared the $1,300 mark.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) rallied to a one-month high on Tuesday, as markets began to price in a fall in consumer prices in the United States.<\/p>\n

Following a low of $16,966.59 to start the week, BTC<\/a>\/USD raced to an intraday peak of $17,457.30 earlier in today\u2019s session.<\/p>\n

This move saw the world\u2019s largest cryptocurrency fly to its strongest point since November 11, when price was at a high of $17,645.<\/p>\n

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BTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

As can be seen from the chart, today\u2019s surge comes as the 14-day relative strength index (RSI) moved beyond a ceiling of its own.<\/p>\n

The index climbed above a resistance level of 52.00 earlier in the day, and as of writing is tracking at 55.00.<\/p>\n

Despite this afternoon\u2019s report, we will likely see more volatility on Wednesday, as traders get ready for the upcoming U.S. Federal Reserve rate decision.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>) also rose in today\u2019s session, as bulls reentered the market, taking prices close to the $1,300 level.<\/p>\n

ETH<\/a>\/USD raced to a high of $1,294.10 in today\u2019s session, which comes less than a day after hovering at a low of $1,248.36.<\/p>\n

As a result of today\u2019s move, ETH<\/a>\/USD moved closer to a recent resistance level of $1,300, as prices were almost 4% higher than Monday\u2019s peak.<\/p>\n

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ETH<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Like with bitcoin, bullish sentiment in ethereum returned following a breakout of a resistance level at the 53.00 mark.<\/p>\n

As of writing, the index is tracking at 53.75, and now seems to be moving towards a ceiling of 55.00.<\/p>\n

ETH<\/a> will likely recapture the $1,300 level, however what happens at that level is the key question for traders.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Will ethereum move beyond its ceiling at $1,300? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: 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<\/a> 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.<\/p>\n<\/div>\n

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