Major Cryptos Under Pressure: TD Sequential Flashes Sell Signals Ahead of FOMC
- Bitcoin and Ethereum show sell signals, indicating possible price drops.
- Solana and Cardano struggle with resistance as the market prepares for turbulence.
- FOMCs rate decision could shape future crypto market movements.
Major cryptocurrencies are facing sell signals, indicating potential dips in the coming days. As the FOMC meeting draws near, the market anticipates uncertainty and traders should brace for possible volatility.
TD Sequential Indicator Flashes Sell Signals
The cryptocurrency market faces significant uncertainty as the Federal Open Market Committee (FOMC) meeting approaches. Several major digital assets are showing signs of potential downward movement. The TD Sequential indicator has flashed sell signals for Bitcoin, Ethereum, Solana and Cardano, suggesting possible corrections in the near term.
Bitcoin, currently priced at $102,723, has experienced a major resistance near the $103,200 level. A sell signal from the TD Sequential indicator, marked as a 9, indicates a potential dip.
Ethereum has also shown a sell signal at the $3,154 mark. The resistance level remains strong at $3,200, which could cause a short-term decline. The TD Sequential indicator points towards a potential correction which implies an imminent downward shift in Ethereums price.
Solana is also under pressure, with the indicator showing a sell signal at around $235. SOL has faced difficulties to maintain its position due to significant resistance at this level. A potential drop from these levels is anticipated.
Cardano presents a mixed outlook with both bullish and bearish signals. A green 1 is followed by a sell signal at $0.9464 which suggests imminent volatility. The support level at $0.9400 and resistance at $0.9500 suggest that the asset could face fluctuations in the near future.
Traders and market participants are advised to monitor price movements closely as a drop could occur before further stabilization.
FOMC Meeting Sparks Speculations About Market Volatility
As the FOMC meeting approaches, risk assets, including cryptocurrencies, may experience increased volatility. The Federal Reserve is expected to keep interest rates unchanged and maintain the target range at 4.25% to 4.5%. The market will closely monitor any signals from Chairman Jerome Powell on the U.S. economys future outlook.
A key area of focus is the U.S. debt ceiling, which has been reached at $36 trillion. The Treasury has implemented extraordinary measures to continue government operations, possibly influencing market liquidity. These measures could counterbalance the effects of the Feds tightening policies, thus affecting risk assets.
Moreover, there is increased scrutiny on shelter inflation. Major indicators suggest that shelter inflation is moderating, with slower rent increases in recent months. This trend could impact the consumer price index and may prompt market reactions if Powell acknowledges this disinflationary shift.
The crypto market is poised for possible turbulence, especially with the current economic climate. Bitcoin, Ethereum, and other cryptocurrencies may face downward pressure if the Feds actions signal tighter economic conditions. However, a shift towards a more dovish stance could trigger a rally in risk assets like cryptocurrencies.
As the market waits for the FOMCs decision, traders should be on the lookout and adjust their strategies. It is important to monitor these developments closely because they may cause major price movements across various assets in the coming days.
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Text source: TronWeekly
