Manta Coin Analysis September 17: US Fed Rate Cut in the Forefront

JPMorgan and Goldman Sachs are targeting a modest 25 basis point rate cut by the US Federal Reserve ( #Fed ).

Wall Street giants are divided on the Fed's September 25 basis point and 50 basis point rate cuts. Similar to gold, the #Bitcoin price may decline or consolidate after the rate cut.

The September 18 rate cut decision could create two possible scenarios for Bitcoin ( $BTC ) price: prices could rise due to risk-taking or fall due to panic selling. The BTC price forecast follows market movements due to Tether printing $1 billion in USDT ahead of the Federal Reserve's rate cuts.

According to crypto analyst Ali Martinez, on lower timeframes, TD Sequential is giving a sell signal for Bitcoin, while the RSI and Stochastic RSI are showing oversold conditions. If Bitcoin fails to close above the $58,800 level, a potential correction is possible.

On the other hand, according to our #MANTA Network price prediction, the Manta Network price is expected to increase by 226.62% by October 17, 2024, reaching $2.10.

The Greed Index is showing 33 (Fear). The $MANTA Network recorded 15/30 (50%) green days in the last 30 days with a price volatility of 7.86%.

The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 47.44, which suggests that the MANTA market is in a neutral position.

At $0.66, Manta Network’s support levels are $0.629416, $0.612903, and the strongest at $0.59076.

Manta Network’s resistance levels are $0.668072, $0.690216, and $0.It is $706728.

The interest rate decision will determine the path of BTC and then Manta.