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<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/how-did-bitcoin-and-ethereum-react-to-the-cpi-report/">How did Bitcoin and Ethereum React to the CPI Report?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The release of Consumer Price Index (CPI) inflation numbers recently created some buzz in the market. While many were expecting a 3.6% year-over-year inflation rate, the actual data revealed a slightly higher figure of 3.7%.&nbsp; The upcoming Federal Reserve meeting, or FOMC meeting, is critical. Market participants largely anticipate no rate hike at this meeting, which would maintain current interest rates.&nbsp;</p> 
<p><a href="https://www.youtube.com/watch?v=3xiasNIxQ6I" rel="noopener noreferrer nofollow">However, according to Crypto World on YouTube</a>, the Bitcoin chart has not changed much recently. Bitcoin is still finding support in the range of $24,300 to $25,300. While it hasn’t broken free from its bearish trend entirely, it’s essential to note the potential signs of a bullish divergence.</p> 
<p>The Bitcoin chart is showing a positive sign as it bounced from a critical support level that was once a barrier. While we’re not completely out of the downward trend, there’s a chance of a breakthrough. The Bitcoin RSI on a daily basis is also showing promise with higher lows, indicating a possible shift towards more positive momentum in the short term. </p> 
<p>In terms of levels to watch, there is strong support between $25,600 and $25,700, with additional support at $25,000. On the other hand, resistance is expected in the range of $26,600 to $26,800.</p> 
<h2 id="ethereum" data-name="ethereum" class="wp-block-heading"><strong>Ethereum</strong></h2> 
<p>Talking about Ethereum, he said that it recently had a short-term improvement in its price. However, it’s still below an important level that used to be supported but is now acting as resistance, which is between $1,620 and $1,660. In terms of key price levels to watch, there’s support around $1,510 to $1,520, which is at the 50% Fibonacci retracement level. </p> 
<p>If it goes lower, there’s another support area between $1,360 and $1,400. On the flip side, if Ethereum goes up, it will face resistance in that range he mentioned earlier, which is between $1,620 and $1,660.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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How did Bitcoin and Ethereum React to the CPI Report?

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