The most important cryptocurrency on the market failed to sustain the brief rebound that began on Friday, after the speech of the president of the Federal Reserve.
The pessimism returned to the cryptocurrency market and the pressure on Bitcoin (BTC) returned at the start of the week After what was dissipated during the weekend the euphoria generated by the statements of the president of the Federal Reserve (Fed), Jerome Powellin the inaugural speech of Jackson Hole, where he suggested a rate cut in September.
BTC drops 3.2% in the last 24 hours to US $ 111.053its lowest level since July 9. While, Ethereum (Eth) operates a U $ S4549.59, a daily cut of 3.6%, but with a weekly rise that remains at 6.6%according to Binance. The rest of the Altcoins also shows a bearish trend during this day: La Memecoin Dogecoin (Doge) falls 4.7%, while Solarium and Tron They lower 3.8%.
Ripple (XRP) falls 2.3% Au $ 2,93; BNB (BNB) It does 1% Au $ S851.47 and Cardano (ADA) 3.5% Au $ S0,8574.
Ethereum reached a new record
Ethereum’s price reached U $ 4,948 This August 24, marking a new historical maximum (ATHfor its acronym in English). The analyst Ted Pillows He put the focus on something that sees key to continue the rise: “Having a support of US $ 4,600 would indicate fortress. If Ethereum performs deeper tests, the support of U $ S4.370 Is the next stop”.
For its part, the trader and analyst Michaël van de Poppe He also warned about possible corrections before continuing the upward trend. He revealed that he looks for bouncing entries between US $ 4,100, a level that has functioned as a support, and US $ 3,900, an area that has acted as resistance.
The reason for this is that I do not expect to continue “rising continuously at once”. In addition, he stressed that “a gigantic movement up ETH indicates that it is facing a takeoff in the Altcoins.”
Source: Ambito
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