Latest Situation in Bitcoin (BTC), Ethereum (ETH) and MATIC Following US Inflation Data

The US Consumer Price Index (CPI) data, which is critical for cryptocurrencies, was announced today at 16.30 in Turkey. Although cryptocurrencies are calm with the annual inflation of 6.5% in line with expectations, sharp upward movements are seen in the evening hours.

In this article, we will take a look at the current status of Bitcoin, Ethereum and MATIC after the CPI data.

Bitcoin (BTC)

Father of cryptocurrencies bitcoinAfter the inflation figure that came at the level of expectations, it started to attack in the evening hours. BTC has gained about 4% since the start of the day.

According to the 4-hour chart, BTC, which instantly broke the resistance of $ 18,400, can close above this level, its new target can be around $ 20 thousand.

If the upside is temporary, short-term support levels are found at $17,500, $17,000, and $16,400, respectively.

Ethereum (ETH)

Smart contract platform that lost value against Bitcoin with the bankruptcy of the FTX exchange EthereumAlthough coin has outperformed the leading cryptocurrency in recent days, its rise today is more limited.

ETH is momentarily pushing $1425, which is the upper limit of the resistance area indicated by the green zone. If the bulls can surpass this figure, the next stop is at $1650. Otherwise, the $1230 support will play a critical role.

Polygon (MATIC)

The local token of Polygon, which did not close the end of the year very well MATIClimited participation in today’s rise with 1.50% gain from the beginning of the day.

The next resistance is found at $0.94 for MATIC, which has recently surpassed the $0.87 level to support.