Bitcoin and Ethereum Price Prediction as Fed Interest Rate Decision is Announced – New Bull Market Starting?

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By BitcoinWiki News




Summary

Ethereum is currently trading at $2,299.7, slightly below its pivot point of $2,308.3. It faces immediate resistance at $2,393.1 and supports at $2,292.5 and $2,233.0. The Relative Strength Index is neutral at 59, and the 50-day Exponential Moving Average lies at $2,300.4, near the pivot point. Ethereum is currently contained within a symmetrical triangle pattern, indicating consolidation and the potential for a bullish breakout.

Brief Summary

Ethereum is trading just below its pivot point, with resistance at $2,393.1 and support at $2,292.5. The Relative Strength Index is neutral at 59, and Ethereum is contained within a symmetrical triangle pattern, suggesting potential for a bullish breakout.

Thought-Provoking Questions

1. Potential Breakout: What factors could lead to a bullish breakout for Ethereum?

2. Short-Term Directional Bias: How might the market posture for Ethereum change based on the $2,300 support area?

3. Consolidation and Resistance: How might the symmetrical triangle pattern and immediate resistance levels impact Ethereum’s price movement in the near future?


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