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On Wednesday, Solana reached a six-week high as markets reacted to the most recent American inflation data. The consumer price index (CPI) dropped to 5% in March, less than the 5.2% figure many had anticipated. Additionally, Ethereum Classic increased, getting close to a multi-week high.
Solana (SOL)
On Wednesday, Solana (SOL) added to its 15% gain from the previous day as it increased for a fourth straight session.
Today’s session saw SOL/USD rocket to an intraday high of $24.34, up from the previous day’s low of $22.42.
After today’s price increase, SOL reached its highest level since February 21 when it reached a high of $24.71.
Looking at the chart, the solana bulls successfully pushed the token past a significant resistance mark of $24.00 during Wednesday’s rise.
The 14-day relative strength index (RSI), which passed through its own ceiling of 64.00, was one of the drivers behind this breakout.
The index is currently trading just below a stronger resistance level of 68.00, at 66.65 as of this writing.
Ethereum Classic (ETC)
Today’s session saw Ethereum Classic (ETC) prices rise to a new multi-month high as the cryptocurrency continued to trade in the green.
ETC/USD has risen to a high of $22.18 as of this writing after hitting a low of $20.75 on Tuesday.
After breaking over a ceiling at $21.50 earlier today, the Ethereum classic has risen to its highest level since March 18.
This has led to price strength rising beyond its own barriers, much like Solana, and it is currently tracking just below another barrier at the 64.00 level.
ETC will likely move towards $23.00 if the index can break over this resistance level.
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