Ethereum price risks dropping to $2K on ‘bear flag’ setup
The bearish outlook appears against the backdrop of the Federal Reserve's tightening policies.
Auto Added by WPeMatico
The bearish outlook appears against the backdrop of the Federal Reserve's tightening policies.
LUNA price is at risk of further downside, but analysts point to a possible rebound as the altcoin tests a reliable, multi-month moving average as support.
BTC is more than 50% down from its $69,000 all-time high and traders seem to have no clue about the digital asset’s next direction.
Analysts foresee prolonged weakness in BTC and altcoins following hawkish comments from the Federal Reserve.
The SEC’s main concern reportedly lies with the high-yield offering by crypto lending services which are often considerably higher than most saving banks.
ETH price appears to be bottoming but analysts are watching for $2,850 to flip from resistance to support before calling a bullish reversal.
MATIC price secured a near 40% gain as crypto market sentiment improves in the wake of a notable $250 billion relief rally.
Traders look for a market-wide recovery now that the Fed confirmed at least three rate hikes and a wind-down of its bond purchasing policy in 2022.
Commentators brace for upheaval as Fed officials prepare to reveal future financial policy moves.