Saturday, August 13, 2022
  • Login
Crypto Newsmart
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETHEREUM
    • NFT’s
    • CRYPTO LIVE PRICE
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETHEREUM
    • NFT’s
    • CRYPTO LIVE PRICE
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
No Result
View All Result
Crypto Newsmart
No Result
View All Result

Ethereum’s Sentiment Drops as FOMC Meeting Nears

by Crypto Newsmart
in Blockchain
Reading Time: 2 mins read
Ethereum’s Sentiment Drops as FOMC Meeting Nears
3
VIEWS
Share on Facebook

 

After experiencing considerable momentum, Ethereum’s sentiment has dropped as the Federal Open Market Committee (FOMC) meeting edges closer, according to Santiment.

 

The market insight provider explained:

 

“Ethereum had an up and down Sunday, jumping above $1,640 before dipping back down to $1,540. The trading crowd continues to not believe the hype, and is expecting prices to fall heading into the FOMC meeting. ETH should continue to stay volatile.”

 

Image

Source: Santiment 

As part of the Federal Reserve (Fed), the FOMC determines the direction monetary policy will take, and it has resorted to interest rate hikes in the recent past. For instance, the interest rate was increased by 75 basis points (bps) last month, the highest surge in 28 years.

With the FOMC meeting slated for July 27, all indicators are that the interest rate might experience a similar hike. Mike McGlone, a senior Bloomberg Intelligence commodity strategist, recently stated:

 

“The Fed is using a sledgehammer on commodities and risk assets. Down about 20% since the June 75 bps rate-hike, the aftermath of another 75 in July may be similar for the three C’s – crude oil, copper, and corn. The stock market may be more vulnerable than crude.”

 

Meanwhile, crypto analyst Ali Martinez noted that Ethereum should hold $1,550 to avoid a pullback because it is a significant support level. He pointed out:

 

“Transaction history shows that Ethereum formed a significant demand wall at $1,550, where more than 586,000 addresses had previously purchased nearly 5.1 million ETH. Failing to hold above this vital support level could trigger a correction to $1,300.”

 

The second-largest cryptocurrency was down by 4.95% in the last 24 hours, with a price of $1,522 during intraday trading, according to CoinMarketCap. 

Image source: Shutterstock

Source link

What is Ethereum ?


  • Trending
  • Comments
  • Latest
Centralized vs Decentralized

Centralized vs Decentralized (Crypto& Exchanges)

27 June 2022
moonpay

Everything you need to know About the Website Moonpay

10 August 2022
Best Crypto Exchanges Of 2022

Best Crypto Exchanges Of 2022

13 January 2022
All Eyes on ETH – Kraken Blog

All Eyes on ETH – Kraken Blog

9 August 2022
vitaly mazur rnLfq9JiYk0 unsplash scaled

“The Merge” To Be A Buy The Rumor Sell The News Event For Et…

12 August 2022
Ethereum id 10ae7505 aa15 4054 9986 456ab7e2e0cb size900

Ethereum 2.0 Deposit Contract Approaches 13.3 Million ETH

12 August 2022
Best Web 3.0 Cryptos to buy

The Best Web 3.0 Cryptos to buy for the future in 2022

12 August 2022
vitaly mazur rnLfq9JiYk0 unsplash scaled

“The Merge” To Be A Buy The Rumor Sell The News Event For Et…

12 August 2022
internet of things iot intermediate level v2

Announcement: Internet Of Things (IoT) – Intermediate Level Course Launched

11 August 2022
moonpay

Everything you need to know About the Website Moonpay

10 August 2022

  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETHEREUM
    • NFT’s
    • CRYPTO LIVE PRICE
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
Preferences
{title} {title} {title}