The US holiday weekend impacts the cryptocurrency market, leading to a decrease in trading activity and uncertainty.
Impact of Holiday Break on Trading
US markets are currently on a holiday break, which is affecting the cryptocurrency sector. The slowdown in trading may lead to a decrease in trading volumes that had already begun to show a decline earlier in the week.
Outlook for AVAX and ETH
Short-term traders may find the upcoming volatility beneficial, with potential market shifts expected as EU meetings unfold this weekend. Given the positive US employment data alleviating recession concerns, cryptocurrencies may gain positive momentum. AVAX prices experienced an upsurge, crossing the $18.5 threshold.
Prospects for BNB and XRP
Trading BNB in the $600-$660 range continues to be a popular approach. XRP finds itself in a strong position due to positive signals regarding ecosystem growth, which may lead to further price increases.
With multiple factors at play, cryptocurrency enthusiasts and traders will be keenly watching for indicators that could swing the market as the holiday concludes.
