ETH reaches 3-week high in front of the FOMC protocol-market tactualizations

Ethereum rose to a three-week high on January 4 when the markets prepared for the publication of the latest protocol of the Federal Open Market Committee (FOMC). The report on Wednesday will probably show the perspective of the US Federal Reserve on the economy and explain its argument behind a political swivel in more detail. Bitcoin was also higher and rose to an eight-day high.

Bitcoin

bitcoin ( bitcoin ) on Wednesday rose to an eight-day high in front of the recent publication of the recent publication FOMC protocols climbed.

after a low of 16,622.37 $ on Tuesday bitcoin /USD rest this early on an intraday-high of 16,886.14 $

The move saw bitcoin over an important level of resistance of $ 16,800, which is usually the last hurdle that is prevented Price $ 17,000.

As can be seen from the diagram, today's price increase Bitcoin has driven its highest level since December 27th when it was traded at $ 16,961.

retailers will probably try to move over $ 17,000 before or immediately after the publication of the protocol report.

The rally comes because the 14-day relative strength index (RSI) moves over its own upper limit at 49.00 and currently runs at 50.37.

ether

like bitcoin ether ( eth ) also rose sharply in today's session, whereby the prices climbed to a multi -week high.

eth /USD a day of 1,253.12 $, which less than 24 hours after trading at a low of 1.207.49 $ is reached.

As a result of today's movement, Ethereum broke out of a level of resistance at $ 1,230 and reached the highest level since December 16.

If you look at the diagram, the climb came as follows eth broke out at the RSI at 50.00 55.73.

This momentum shift comes from the fact that the sliding 10-day average (red) approached an upward crossover with its 25-day counterpart.

If this intersection takes place, we will probably see that Ethereum will increase over the $ 1,300 brand in the coming days.

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Do you expect Ethereum to reach $ 1,300 this week? Leave your thoughts in the comments below.

Eliman Damell

Eliman brings an eclectic view of the market analysis, he was previously a broker director and trainer in retail. He currently acts as a commentator for various investment classes, including crypto, stocks and foreign exchange.

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