Bitcoin, Ethereum Technical Analysis: BTC Rallies to 1-Month High, as ETH Nears $1,300 

Bitcoin surged to a one-month precocious connected Dec. 13, up of the latest ostentation study from the United States. It is expected that user prices volition autumn to 7.3% successful November, which would beryllium a driblet of 0.4% from the period prior. Ethereum was besides higher successful today’s session, arsenic prices neared the $1,300 mark.

Bitcoin

Bitcoin (BTC) rallied to a one-month precocious connected Tuesday, arsenic markets began to terms successful a autumn successful user prices successful the United States.

Following a debased of $16,966.59 to commencement the week, BTC/USD raced to an intraday highest of $17,457.30 earlier successful today’s session.

This determination saw the world’s largest cryptocurrency alert to its strongest constituent since November 11, erstwhile terms was astatine a precocious of $17,645.

BTC/USD – Daily Chart

As tin beryllium seen from the chart, today’s surge comes arsenic the 14-day comparative spot scale (RSI) moved beyond a ceiling of its own.

The scale climbed supra a absorption level of 52.00 earlier successful the day, and arsenic of penning is tracking astatine 55.00.

Despite this afternoon’s report, we volition apt spot much volatility connected Wednesday, arsenic traders get acceptable for the upcoming U.S. Federal Reserve complaint decision.

Ethereum

Ethereum (ETH) besides roseate successful today’s session, arsenic bulls reentered the market, taking prices adjacent to the $1,300 level.

ETH/USD raced to a precocious of $1,294.10 successful today’s session, which comes little than a time aft hovering astatine a debased of $1,248.36.

As a effect of today’s move, ETH/USD moved person to a caller absorption level of $1,300, arsenic prices were astir 4% higher than Monday’s peak.

ETH/USD – Daily Chart

Like with bitcoin, bullish sentiment successful ethereum returned pursuing a breakout of a absorption level astatine the 53.00 mark.

As of writing, the scale is tracking astatine 53.75, and present seems to beryllium moving towards a ceiling of 55.00.

ETH volition apt recapture the $1,300 level, nevertheless what happens astatine that level is the cardinal question for traders.

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Will ethereum determination beyond its ceiling astatine $1,300? Leave your thoughts successful the comments below.

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