Bitcoin and Ethereum have been affected by FED
Ever since the new year has come Bitcoin and Ethereum have been showing some movements.
Although Bitcoin tested the levels of $ 28,110 yesterday after the interest rate decision and then Powell's speech, it then experienced a rise to $ 29,260 with a rapid recovery. Bitcoin, which started the new day with a green candle, shows activity at $ 29,160 this morning.
The fact that it is above the 50-day moving average level again with yesterday's rise supports its positivity for now. In the continuation of the possible upward movement, the $293.50 level can be expected to act as the first resistance. If these levels are broken, it may bring a rise to $29,850 and then to $30,300 levels.
Bitcoin and Ethereum have been affected by FED
In a possible downside move, the 50-day moving average of $28,730 can be met as the initial support level. If this level is broken, it may bring a pullback to $28,285 and then to $28,100. With the rise that came yesterday, Ethereum broke an important resistance level and shows activity at $ 1,898 this morning.
The rise of Bitcoin price and dominance, the fall of Ethereum dominance is putting pressure on Ethereum and other altcoins for now. However, the fact that it is above the 50-day moving average is positive for now.
In a possible upward move, first $1,918 and then the critical $1,941 levels can be tested. If the $1,941 level is broken and sustained, a rise to $1,982 can be observed.
For a possible downside move, it will be important to hold above the 50-day moving average level of $1,897. If it fails to hold this level, a pullback to $1,885 and then $1,844 can be seen.
