Markets Brace 📊 – Fed Decision May Spark Big Swings in BTC,
Aalyan_Khalid
Updated at: 2 hours ago
{"content":"Markets Brace 📊 – Fed Decision May Spark Big Swings in BTC, ETH, and XRP
Bitcoin price breaks $116,000 barrier, possibly triggering a bullish run to $120,000.
Ethereum may rise from $4,488 support.
After retesting a major level, ripple price recovers, suggesting bullish momentum.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) may be volatile this week ahead of the Federal Reserve's rate decision on Wednesday. Traders anticipate the next decisive move as BTC closes over a crucial resistance level, ETH holds strong at support, and XRP rebounds from important levels.
Bitcoin bulls want $120,000 after breaking barrier.
Bitcoin price held below $116,000 for three days after facing resistance last Friday. BTC closed over $116,000 on Tuesday. On Wednesday, it was roughly $116,700.
BTC might rise to its crucial $120,000 level if $116,000 daily support holds.
BTC may fall below its 50-day Exponential Moving Average (EMA) around $113,674 if it corrects and closes below $116,000.
Ethereum rebounds from $4,488 support.
Ethereum rose 5.68% on Friday after breaking the upper consolidation hurdle at $4,488. It fell 3.82% in four days, retesting its upper consolidation level at $4,488 on Tuesday. Wednesday's trading price is $4,538, just above this support.
ETH may rebound to its record high of $4,956 if $4,488 support holds.
However, ETH might fall to $4,232 if it closes below $4,488.
Possible XRP descending wedge breakthrough
On September 11, ripple price broke above the falling wedge pattern (made by connecting many highs and lows with two trendlines from mid-July), favoring bulls. The following two days saw XRP rise 2.5%. But it fell 3.4% until Monday, retesting its breakthrough mark at $2.99, and rallied modestly the following day. As of Wednesday, it's approximately $3.04.
If XRP keeps rising, it might reach $3.40, its daily resistance.
XRP might fall to its 50-day EMA at $2.94 if it corrects.
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