Bitcoin, Ethereum Technical Analysis: ETH Moves Higher as Markets Continue to React to US Inflation Report – Bitcoin News

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ETH rebounds on Friday, briefly moving back above $1,300.

Soon after the U.S. inflation report was released,The token continues to trade above yesterday’s bottom, and as of writing is residing at the $1,272.95 mark.Looking at the chart, the 10-day moving average looks to be on the cusp of a downward cross with the 25-day MA.

Typically, such a move signals the beginning of a downward trend, which could mean that we have not yet reached a bottom. Should this be the case, bears will likely be targeting a breakout below $1,000, after failing to move beyond this point earlier in the week.Tags in this story

 

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