SIGNALS OF RISE IN MARKETS: EXPECTATIONS BEFORE THE INTEREST RATE CUTS IN BTC AND ETH‼️
There has been great movement in cryptocurrency markets in recent weeks. It was observed that BTC experienced a decline along with the increase in volume during the Mid-Autumn Festival. While BTC experienced a pullback of approximately 3,000 points, the market recovered with the finalization of the interest rate cut. Monday and weekend data showed that BTC peaked at 61,300. Market sentiment continues to remain high due to the effect of the interest rate cut.
A similar movement was seen in ETH, with a pullback of approximately 90 points. However, there are strong support levels for both assets. While the support level around 57,500 is maintained for BTC, ETH is expected to trade in the range of 2,270-2,300. After the interest rate cut, BTC's target was determined to be around 64,000, while ETH's was around 2,450.
Although the upward trend continues in the market, it is important to pay attention to the expansion force and consider the downward trend.
As a result, the market has high volatility and trading strategies should be adjusted accordingly.
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- The information contained in this article is never investment advice, but is for accurate and up-to-date information purposes. STAY TUNED. Be sure to do your own research.
