Bitcoin price is currently trading around $62,900 and altcoins are back in neutral. It is critical for BTC to rise above $63,000. Meanwhile, Fed member Bowman voiced his objections to the latest interest rate cut decision. So, what are the latest developments regarding Ethereum and PEPE Coin?
Fed member Bowman is one of the names opposing the 50 basis point interest rate cut decision. According to him, markets may perceive this decision as an early victory and this may make the Fed’s job difficult. With the dissenting opinion he published, he showed that the Fed’s hawkish wing has assumed the balancing role. In addition, Bowman, who stated that the inflation target has not yet been reached, argues that it would be more appropriate to proceed with smaller steps. There is also the risk that a large interest rate cut in the markets will be misinterpreted and increase demand unnecessarily.
The largest altcoin, Ethereum$ETH
, continues to trade below the $2,823 resistance. Although both BTC and USD have recovered from the lows, it needs to create strong demand at the first resistance area at $2,560. If this is achieved, the critical resistance levels before the rally could be reached and the target above $3,000 could be re-targeted.
In a bearish scenario, closes below $2,461 could increase selling pressure and lead to a drop to $2,264.
PEPE Coin, one of the prominent meme coins of the bull season, has not yet achieved the expected rise. Sales above the $ 0.00000825 level have the potential to pull the price back to $ 0.00000751. However, the fact that BTC remains above $ 61,700 shows that we should not be pessimistic for now.
If PEPE$PEPE
If the coin can start a strong upward movement, the target will be $0.00000987. If this level is exceeded, targets of $0.00001278 and $0.00001688 may come to the fore. In the bearish scenario, the important support point is at $0.00000701.
These developments in the markets contain important signals that investors should follow carefully. In particular, the Fed's interest rate policies and the critical resistance and support levels of major cryptocurrencies can play a decisive role in short-term price movements.
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