Crypto outlook | Positive sentiment after Fed statement

Fundamental data

After Jerome Powell announced on Friday last week that he is in favor of lowering interest rates, the crypto markets were ultimately able to move higher again. Overall, positive sentiment now seems to be spreading in all the pairs monitored here.

At the political level in the US, RFK-Junior has also made further comments on the Republicans. He clearly wants to support Donald Trump’s candidacy. He is considered an advocate of the crypto markets and could provide further positive potential with his statements.

Technical analysis:

– BTC: Bitcoin is trading at USD 64,260. The price was able to move higher again on Friday. In addition to the positive comments from Jerome Powell, charting patterns also indicate further fresh upside potential. In particular, the upward break of the 50- moving average could now unleash further potential.

The daily chart could now indicate a new test of the USD 68,000 zone, with the USD 70,000 area not far away.

– ETH: Ethereum is trading at USD 2,776.00 and shows further upside potential. In particular, the recent upward breakout through the resistance area at USD 2,720.00 could therefore unleash new potential.

The 4h chart indicates that there could be further momentum in the direction of the next trading box in light blue color. With further upward pressure, downward setbacks could then be used for new entries. Long-term weekly and monthly charts also continue to reflect the positive sentiment. In this case, the market has recovered strongly and continues to point to positive prices.

– XRP: Ripple is trading at USD 0.6150 and also points to a positive trend. Although an upward breakout has not yet occurred, it could soon become noticeable.

The monthly chart looks unchanged, but continues to show a positive trend on a weekly basis. The positive news resulting from the latest court rulings seems to have fizzled out, but the trend remains stable and positive, as mentioned above.

The weekly chart shows further upward potential here. If the market can break out of the broad sideways zone to the upside, the positive trend could strengthen.

– LTC: Litecoin is trading at USD 67.80. A breakout to the upside could also occur here soon if the price can sustainably break the important resistance area to the upside.

As the red, falling resistance line shows, positive momentum could now follow. This zone is also reinforced by the 50- moving average, which might just be broken. The next target zone could then be the USD 75.00 area.

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