Key Points:
- Bitcoin declined by 1.22% on Sunday (May 26), ending the session at $68,443.
- Fading investor bets on a September Fed interest rate cut overshadowed Trump and his support for cryptos.
- On Monday (May 27), US BTC-spot ETF market chatter and ETH-spot ETF-related updates need investor consideration.
BTC Retreats as Fed Rate Cut Bets Falter
A price increase for Ethereum that has reached the top of the 450-day and 200-exponential moving averages confirms a bullish price pattern. BTC Fed Rate Outlook: A breakout of $3,835 for Ethereum will open the door for bulls to move up to the $4,000 handle. For instance, a break of $4,000 would lead us to a new high of $4,091, which was seen in March. Please take into account the US ETH-spot ETF market discussion.
Another case is if Ethereum drops below $3,650, enabling the bears to hit the $3,480 support level. According to the 14-period Daily RSI of 70.57, Ethereum might be subject to the overbought zone. At the $3,835 price point, selling pressure will likely mount.
Technical Analysis
Bitcoin Analysis
For Bitcoin (BTC), it was the price contrast of the letter X of the past 50-day and 200-day periods. A bullish signal is when the price of a Bitcoin is above the 50-day and 200-day moving averages. If Bitcoin moves above the $69,000 level, it will be possible to move to the $70,000 handle. A firm price above $69,000 would support Bitcoin to reach $70,000 relatively soon. The fact that this current level was surpassed will make the bulls in the market reach $73,808, the market’s recorded price for the bulls. Two indicators, US crypto-spot ETFs and the SEC plays, must be considered.
On the other hand, if Bitcoin drops below the 50-day exponential moving average, the $64,000 level will be the support. Suppose the 14-day Relative Strength Index is read at 57.83, this value, Bitcoin (BTC) can record the historic high of $73,808 as long as it does not exceed the overbought level first.
Ethereum Analysis
A price increase for Ethereum that has reached the top of the 450-day and 200-exponential moving averages confirms a bullish price pattern. A breakout of $3,835 for Ethereum will BTC Fed Rate Outlook open the door for bulls to move up to the $4,000 handle. For instance, a break of $4,000 would lead us to a new high of $4,091, which was seen in March. Please take into account the US ETH-spot ETF market discussion.
Another case is if Ethereum drops below $3,650, enabling the bears to hit the $3,480 support level. According to the 14-period Daily RSI of 70.57, Ethereum might be subject to the overbought zone. At the $3,835 price point, selling pressure will likely mount.
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