The impact of interest rate hikes is gradually emerging in the market, and we see that whether it is the oil price or the real estate market, or some indicators such as the consumer confidence index and the US PMI are all declining. Even in the cryptocurrency market, when you switch to 4h or lower-level chart, you will find that in the main trading-time in the United States, there is few cash-flow into the exchanges, and price is under selling pressure at this time. The slowdown in demand spread to all the markets in US.
At present, the market predicts that there is a 92.1% probability that the FOMC will raise interest rates by 75bp in July. In the case of a sharp decline in demand, there may be a new expectation gap.
ETH’s movements last week was in line with our conclusions. After reaching the given support level, much bullish power gathers, and after the price rises to the given resistance level, it falls back again. The bulls of ETH performed better than BTC’s last week. Its price reached near the resistance level on Jun.15, the weekend's decline only recovered the one green candle, and the bears was not strong.
Conclusion: Mostly fluctuation, and there is a certain possibility that the rebound is not end. We remain optimistic about its performance this week after comparing with BTC. In the next few days , the price will retest the given resistance level , and judging by the current bulls, it may break through the resistance level this week. So we raised the resistance level to 1430. The support level remains at 1050.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
At present, the market predicts that there is a 92.1% probability that the FOMC will raise interest rates by 75bp in July. In the case of a sharp decline in demand, there may be a new expectation gap.
ETH’s movements last week was in line with our conclusions. After reaching the given support level, much bullish power gathers, and after the price rises to the given resistance level, it falls back again. The bulls of ETH performed better than BTC’s last week. Its price reached near the resistance level on Jun.15, the weekend's decline only recovered the one green candle, and the bears was not strong.
Conclusion: Mostly fluctuation, and there is a certain possibility that the rebound is not end. We remain optimistic about its performance this week after comparing with BTC. In the next few days , the price will retest the given resistance level , and judging by the current bulls, it may break through the resistance level this week. So we raised the resistance level to 1430. The support level remains at 1050.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
