Cryptocurrency markets reacted positively on Wednesday to the recent inflation figures coming from the United States. Solana (SOL) rose for a fourth straight session, hitting a six-week high of $24.34, while Ethereum classic (ETC) moved to a multi-month high just below $22.20.

Solana saw a surge in price that enabled it to break beyond a key resistance level at $24.00. This breakout was spurred by a 14-day relative strength index (RSI) above 64.00, which is now tracking at 66.65. If the index finds a way past this resistance, the price of SOL could appreciate further, potentially moving above $25.00.

Ethereum classic has performed equally well, climbing to its highest level since March 18. This is thanks to its success in traversing a resistance at $21.50, causing the RSI to move past this boundary with ease. A move above 64.00 could see ETC extending its gains towards the $23.00 handle.

The positive news coming from the US saw investors flock to cryptocurrency, giving a much needed boost to the market. Prices of both SOL and ETC rose significantly, resulting in the tokens reaching multi-week and multi-month highs, respectively. It remains to be seen how far these bullish trends will extend, with some predicting that if resistance levels can be broken, prices of both tokens stand to rise further.



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