Crypto
Crypto Market Gains Marginally, Trading Volume Rises 24.61 Per Cent
Rajagopal Menon, VP, WazirX said, “Ethereum is hovering around its 50-day Exponential Moving Average, a key support level. Technical indicators are turning positive, with the stochastic indicator suggesting a potential bullish trend. However, a drop below $3,641.82 could signal a bearish correction, targeting $3,360.31.”
He further mentioned, “Bitcoin is testing a critical resistance level at $69,110.00. Surpassing this level could push Bitcoin higher, with initial targets of $70,645.00 and possibly extending to $73,800.00. The bullish outlook for Bitcoin remains valid as long as it stays above $67,080.00.”
He added, “Market optimism is bolstered by the Federal Reserve’s upcoming policy meeting, with expectations that interest rates will remain steady. Investors are hopeful that potential rate cuts in the coming months could further support the crypto market.”