The Federal Reserve’s base interest rate is now hanging around 2.5%, but following today’s policy meeting, it is largely anticipated that the US central bank will increase it by 75 basis points to 3.25% in order to combat increasing inflation.
According to popular theory, this may cause short-term liquidity runs on both sides but ultimately start an upswing. Markets may tumble if the Fed decides to raise interest rates by 100 basis points (bps) rather than the anticipated 75, which would raise the base rate to 3.5%.
The price of bitcoin is currently resting below the previous weekly lows at $18,500, indicating that a recovery is imminent. However, as was already indicated, the FOMC meeting might be crucial in determining how the markets develop going forward.
However, a break of this level might trigger a reversal, propelling BTC to the next barrier at $19,539 and $20,737. The optimistic perspective will be invalidated and a drop to $15,550 would result if the Bitcoin price breaches below and then transforms the $18,293 support level into a resistance barrier.
After establishing three lower lows and two lower highs since August 4, the price of Ethereum now appears to be circling in a parallel declining pattern. While ETH is presently trading around $1,280, it is possible that it will continue to fall. If the bulls gain control, ETH can pass through the $1,550 immediate resistance level. The optimistic prognosis will be invalidated and Ethereum’s price might fall to $1,080 if the daily candlestick closes below $1,280.
After a 24% leg-up, the ripple price has finally broken through the $0.381 barrier level. The XRP price appears positive and is anticipated to keep rising to $0.439 in the near future. If this level were to be turned into a support floor, the move might be extended to $0.477.
The bullish thesis will be disproved if the price of XRP falls below the $0.331 support floor and turns it into a resistance level. This development might cause the $0.309 barrier for XRP to reappear.
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