Recent changes in the cryptocurrency market have led to sharp declines in altcoin prices, while ETH stays at $3,550, raising uncertainty among investors.
Price Trends of ETH and Altcoins
Several altcoins have experienced losses exceeding 10% in a single day. This month started with a favorable uptrend, but the market's disregard for scheduled announcements has led to a downturn. Investors have begun to take profits in anticipation of the upcoming Federal Reserve meeting.
Analysis of the ETHBTC Chart
Gains exceeding 40% have been satisfactory for short-term investors, making it unreasonable for them to take risks around the Federal Reserve meeting. As mentioned earlier, after ETHBTC's bounce from resistance, the scenario progressed as expected, materializing indeed. Due to profit-taking, resistance could not be overcome, leading to a retreat towards the 0.03 level. If concerns surrounding the Federal Reserve persist, closures below 0.0294 could trigger more altcoin sales.
Outlook on FLOKI Coin
As Trump comments on AI, DOGE, SHIB, XRP, ADA, and SOL continue their day amidst losses of 7% to 12%. Moustache believes that we might observe further rises for FLOKI Coin, especially since BNB recently reached an all-time high. "After four months since the last FLOKI shipment, the price increased by 150%. BNB reached a new ATH recently. As the most popular meme on the BNB network, this is extremely positive for FLOKI. It’s not over yet," says the expert.
The current situation in the crypto market remains uncertain, with altcoins continuing to face pressure. Investors are closely monitoring the ETH charts and alternative cryptocurrencies, awaiting potential changes.
