Bitcoin and Ethereum: Bitcoin awaits Fed report at $28000
- Bitcoin has started to slow down but is still in a bullish trend.
- Today’s Ethereum price movement takes place in the $1785-$1815 range.
Bitcoin chart analysis
Bitcoin has started to slow down but is still in a bullish trend. It remains above $28000 ahead of the upcoming US interest rate news. Today, all eyes are on the FED and the statement of the FED official after data is published on the next interest rate. Expectations are that the FED will increase the interest rate from 4.75% to $5.00%. If everything goes as expected according to the forecasts, there may not be major corrections in the price of cryptocurrencies. For a bullish option, staying above the $27,500 support zone is important. A drop below would mean a further pullback to the $26388 level.
Ethereum chart analysis
Today’s Ethereum price movement takes place in the $1785-$1815 range. There are no major movements as we await the Fed’s interest rate report. For Ethereum, it is important to stay above the $1738 level; additional support on that point is in the EMA moving average.
On the upside, we have this week’s resistance at the $1837 level, and we need a break above it to start a recovery. If we manage to break above, the space opens up to the $1900 level.
