The cryptocurrency market is trading sideways after yesterday’s FED decision to increase the interest rate by 0.75%.
The rate of Bitcoin (BTC) has dropped by 1.33% over the last 24 hours.
On the daily chart, Bitcoin (BTC) keeps falling after a false attempt to fix above the $21,000 mark. At the moment, one should pay attention to the zone around $20,000.
If bulls lose it, there are chances to see a return to the midterm bearish trend. Such a scenario is relevant until the end of the week.
Bitcoin is trading at $20,123 at press time.
Ethereum (ETH) could not withstand the fall of Bitcoin (BTC), going down by 1.49%.
Ethereum (ETH) has lost the $1,550 mark, which means that bears have locally seized the initiative. If the daily candle closes near yesterday’s low at $1,503, the fall may may lead to the $1,450 area within the next few days. In addition, the volume is declining, confirming bulls’ weakness.
Ethereum is trading at $1,527 at press time.
Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.
Source link .