However, this week begins on a more encouraging note. Ethereum followed the trend of Bitcoin and rose to the $3,000 zone.
The US Federal Reserve (Fed) made its first rate hike in mid-March and another is expected in May, while the European Central Bank (ECB) has not yet said what its plans are on interest rates.
However, it has already decided to withdraw its debt purchases in the third quarter and has indicated that the increases in the price of money will take place some time after they are finished. These expected rate hikes make traditional currencies more attractive to investors.
Changes in the Fed’s monetary policies have meant that the dollar has appreciated against the euro by 5.40% so far this year.
Thus, Bitcoin has been losing for 3 consecutive weeks, and so far in April it is down 14%. The spokesman for eToro in Spain, Javier Molina, points out that the main crypto in the world “maintains weakness at the price level within the great range of 35,000-45,000 dollars, which, in turn, is delimited by 30,000-50,000”.
“At the moment, inability to maintain 40,000 and movement, despite the aforementioned, of manifest weakness with a target of US$38,000. If they get lost, we would watch the $35,000 support and that’s where we have the first big test. Above, the 42,000 first and the US $ 45,000 as resistance to beat.
Source: Ambito
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