Investors Hold Their Breath as Bitcoin and Altcoin Prices Fluctuate
Release: 2024/09/21 01:39 Reading: 986
Bitcoin and Altcoin Prices Fluctuate, Leaving Investors on Edge
Bitcoin's price hovers around $62,900, while altcoins have returned to neutral levels. For Bitcoin's uptrend to continue, it must maintain a price above $63,000.
Federal Reserve Statements
Fed member Michelle Bowman has voiced concerns about the recent decision to implement a 50bp interest rate cut. She believes markets may perceive this as an early victory, making the Fed's task more challenging. In her dissenting statement, she emphasized the need for a cautious approach.
Ethereum Price Outlook
Ethereum, the largest altcoin by market capitalization, continues to face resistance at $2,823. To trigger an uptrend, it must generate strong demand around $2,560. Success in this zone could propel ETH towards key resistance levels and potentially lead to gains above $3,000.
PEPE Coin Analysis
PEPE Coin, favored by bullish investors, has yet to show signs of recovery. A breakout above $0.00000825 could indicate a potential return to $0.00000751. However, as long as Bitcoin remains above $61,700, there is no reason for pessimism. If demand supports an upward movement, PEPE Coin may test $0.00000987, with further targets at $0.00001278 and $0.00001688.
Note:
Support for PEPE Coin remains at $0.00000701 in a bearish scenario.
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