On October 3, 2022, at a closed meeting of the US Federal Reserve, the suspension of the key rate increase in order to support the banking sector and avoid a possible debt crisis, we believe, was discussed. Monetary easing could be a positive signal for digital assets. We continue to monitor the cryptocurrency market and await official statements from Jerome Powell.

BTC

This week, BTC, not reaching the support level at $18,488, headed up towards the resistance level at $20,495. The price touched the level twice in an established consolidation near the resistance level. The coin is currently trading at the price level of $19,945.

ETH

ETH looks weaker than BTC this week and continues to consolidate in the $1,262 to $1,401 price range. Within this range, the price touched its lower border, which acts as a support level. Then there was a recovery of more than 9% by the breakdown of the local resistance level at the price level of $1,320 and its subsequent retest. The coin is currently trading at the price level of $1,350.

DOGE

This week, the coin showed a surge in volumes, which led to an increase in the price from $0.06057 to $0.06685, which was more than 10%. At the moment, the coin repeats the movements of BTC and is consolidating near the resistance level at the price level of $0.06685.

XRP

During the week, the coin showed an upward movement from $0.4380 to $0.5078, which was more than 15% and is currently trading around the $0.5072 resistance level at $0.4905.

MATIC

MATIC shows a confident upward movement from the price mark of $0.7123 to $0.8608,

which is more than 20%. At the moment, the coin is in the area of the resistance level and is trading at the price level of $0.8438.

The content of this post should not be construed as an investment advice. We ask you to do your own research. This text is not a guide to action.