Connect with us

Hi, what are you looking for?

Earnings PolicyEarnings Policy

Economy

Bitcoin and Ethereum: Bitcoin is calm ahead of Fed report

Bitcoin and Ethereum: Bitcoin is calm ahead of Fed report

Bitcoin price continues to consolidate sideways, moving in the $34000-$34800 range.
The price of Ethereum has also been in a sideways consolidation for a week, holding above the $1780 level.

Bitcoin chart analysis

Bitcoin price continues to consolidate sideways, moving in the $34000-$34800 range. We have been in this consolidation for seven days now, and there is every possibility that such a movement will continue today. All cryptocurrencies are on standby as they await tomorrow’s Fed decision on the future interest rate.

For a bullish option, we need a positive consolidation to resistance at the $34800 level. Then, we need a break above to get to the $35,000 level. Potential higher targets are $35200 and $35400 levels.

For a bearish option, we need a negative consolidation and a drop below the $34000 support level. A break below would signal a further pullback and confirm bearish primacy on the chart. Potential lower targets are $33800 and $33600 levels.

Ethereum chart analysis

The price of Ethereum has also been in a sideways consolidation for a week, holding above the $1780 level. The upper resistance is in the zone around the $1840 level, and we need to move above it if we want to see a more concrete bullish movement and the formation of a new high. Potential higher targets are $1860 and $1880 levels.

For a bearish option, we need a negative consolidation of the price drop to the $1760 support level. There, we came across the EMA50 moving average, which could provide us with some support.

If there is a break below, a new low would be formed, and thus, we would confirm the bearish option. Potential lower targets are $1740 and $1720 levels.

The post Bitcoin and Ethereum: Bitcoin is calm ahead of Fed report appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Economy

    Everything You Need to Know about Tax Saving Deposit Navigating the world of investments can be daunting, especially when looking for options that offer...

    Latest News

    FBI Director Christopher A. Wray, who has been increasingly under attack from congressional Republicans, pushed back against his critics in a new interview, saying...

    Economy

    USDCHF and USDJPY: USDJPY is testing support at 150.00 The USDCHF pair jumped to 0.91126 levels on Wednesday, forming a new three-week high. The...

    Latest News

    One ripple effect of the Israel-Gaza war is the warp-speed unraveling of relations between President Biden and some of his most loyal voters: Muslims...

    Disclaimer: earningspolicy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 earningspolicy.com