សាកលវិទ្យាល័យ ETH was close to falling below $1,000 on Wednesday, as markets began to prepare for the latest Fed policy meeting. Many expect that the FOMC will opt to hike interest rates today, as inflation continues to peak. BTC អ was also lower, hovering slightly above $20,000.
Bitcoin
BTC អ was hovering marginally above $20,000 in today’s session, as markets were anticipating the latest FOMC policy meeting.
Following a high of $22,729.56 yesterday, BTC អ/USD sank to an intraday low of $20,178.38 earlier in the day.
As a result of this latest low, bitcoin has now fallen for nine straight days, losing over 30% of its value within that time period.
This latest drop now sees BTC អ hit a fresh 19-month low, as prices dropped to their lowest point since December 2020.
Looking at the chart, the RSI is now at 22, however should this fall to the 20 level, we might see BTC អ hit a floor of around $19,000.
Some believe we may see this happen today, depending on what the Fed decides to do, as far as changes to its monetary policy.
Ethereum
សាកលវិទ្យាល័យ ETH was close to falling below $1,000 on hump-day, as traders of the world’s second-largest crypto token were also awaiting the latest Fed decision.
កាលពីថ្ងៃពុធ, សាកលវិទ្យាល័យ ETH fell to an intraday low of $1,025.68, which is its lowest point since January last year.
ដូចជា bitcoin ការផ្លាស់ប្តូរថ្ងៃនេះបានឃើញ សាកលវិទ្យាល័យ ETH fall for a ninth consecutive day, with traders still scrambling to find a solid price floor.
Some still believe that this floor could be below $1,000, with $800 a strong target for current bears in the market.
Overall, ethereum is down nearly 40% in the last seven days, with today’s drop taking relative strength to its lowest point on record.
Should the RSI continue to slide, we may see សាកលវិទ្យាល័យ ETH very well break below $1,000, with a good chance of it moving towards $800.
Will an interest rate hike help or hinder crypto prices? Leave your thoughts in the comments below.
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ការមិនទទួលខុសត្រូវ៖ អត្ថបទនេះគឺសម្រាប់គោលបំណងព័ត៌មានប៉ុណ្ណោះ។ វាមិនមែនជាការផ្តល់ជូនដោយផ្ទាល់ឬការស្នើសុំពីការទិញឬលក់ឬការផ្តល់អនុសាសន៍ឬការយល់ព្រមលើផលិតផលសេវាកម្មឬក្រុមហ៊ុនណាមួយឡើយ។ Bitcoin.com មិនផ្តល់ដំបូន្មានការវិនិយោគពន្ធច្បាប់ឬគណនេយ្យ។ ទាំងក្រុមហ៊ុនឬអ្នកនិពន្ធមិនទទួលខុសត្រូវដោយផ្ទាល់ឬដោយប្រយោលចំពោះការខូចខាតឬការបាត់បង់ណាមួយដែលបណ្តាលមកពីការចោទប្រកាន់ឬបណ្តាលមកពីការប្រើប្រាស់ឬពឹងផ្អែកលើការប្រើប្រាស់ទំនិញឬសេវាកម្មណាមួយដែលបានលើកឡើងនៅក្នុងអត្ថបទនេះ។
Source: https://news.bitcoin.com/bitcoin-ethereum-technical-analysis-eth-btc-remain-lower-ahead-of-federal-reserve-rate-decision/