The movement of the crypto market is finally under serious pressure, if it is observed on Tuesday (16/8/2022) this morning. The price of Bitcoin, Ethereum and other major crypto assets fell into the red, although briefly rose significantly in trading Monday (15/8/2022) night.
Crypto Assets
Even “dog” tokens such as Shiba Inu (SHIB) and Dogecoin (DOGE) among the main crypto assets have now finally. Dropped despite a strong rally the day before. SHIB even slumped the most to penetrate 9.7% in the last day.
Tokocrypto trader Nathan Alexander said, in general, there has been no positive sentiment that has become a generator for. The Strong Evidence Of Degree Of Crypto Assets market to continue to rally fast. “From an economic perspective investors are actually waiting and anticipating shortfalls at. The July Fed minutes of meeting which were released this week,” he said, Tuesday (16/8/2022).
Investors Appeared
Investors appeared to believe the minutes would contain hints on whether the Fed will raise and benchmark interest rate by 50 or 75 basis points next month. The ups and downs of the Fed’s benchmark interest rate are crucial to influence investors’ appetite for later accumulation or selling.
Apart from the Fed’s monetary policy, from a technical point of view, investors still seem hesitant to make accumulations because trading volume has also been Regulation of Crypto Assets observed to continue to decline since last weekend. The lack of price actions has made investors think again to be optimistic and bullish.
Bitcoin And Ethereum
In terms of analyzing the movement of Bitcoin and Ethereum, BTC did manage to surge to US$ 25,000 for the first time in months on August 14 yesterday. Even so, altcoins still outperform Bitcoin in terms of price increases, especially Ethereum (ETH) which is currently anticipating The Merge.
Bitcoin price is currently trying to move to reach the day-20 exponential moving average (EMA), but is stuck at the resistance level at the level of US$ 24,817.
If the Bitcoin price manages to breakout and the target for the current increase is the level of US$ 29,289 and the nearest support level is at the level of US$ 23,650 as a defense.
ETH If The Price
Meanwhile, ETH If the price manages to breakout the day-20 EMA, then the next target for the increase is at the level of US$ 2,230-2,649. If there is a correction, the closest support to stop the decline is at US$ 1,623.
