1. Ethereum and Bitcoin have both seen bullish momentum in recent days, with Ethereum trading close to a three-week peak and Bitcoin remaining near its ceiling at $17,400.
2. Ethereum’s price failed to break out of a key resistance point of $1,350 on Monday, leading to a slowing down of upward momentum.
3. Despite the current price uncertainty, traders may attempt to move beyond a price ceiling at $17,400 later in the week following the release of U.S. inflation data.

The cryptocurrency market has seen a surge in bullish momentum in recent days, with both Ethereum and Bitcoin experiencing gains. Ethereum has been particularly strong, trading close to a three-week peak earlier in the day. The coin hit a high of $1,342.14 in today’s session, before dropping to a bottom at $1,317.24. Meanwhile, Bitcoin (BTC) has continued to trade close to the $17,200 level, with the coin moving from a low of $17,162.99 to a high of $17,389.96 earlier in the day.

However, despite the current bullish sentiment, Ethereum’s price failed to break out of a key resistance point of $1,350 on Monday, leading to a slowing down of upward momentum. This can be seen on the daily chart, with the 14-day relative strength index (RSI) continuing to hover close to a key resistance at the 60.00 mark. As a result, many traders have opted to take profits, with price uncertainty heightening.

Nevertheless, traders may attempt to move beyond a price ceiling at $17,400 later in the week following the release of U.S. inflation data. This could potentially cause a further surge in the cryptocurrency market, particularly in Ethereum, as the coin continues to consolidate near recent highs. However, with the current market volatility, traders should remain cautious and anticipate possible changes in the near future.