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The king cryptocurrency is above $42,000 and the sales from the past week have been met by buyers. Although the peak of $49,000 has not been revisited yet, investors are hopeful as we have moved away from deeper lows. Moreover, altcoins are reclaiming key support areas with the BTC recovery.
Bitcoin (BTC)
The key week has started, and we will experience a number of significant developments including the Fed meeting. New employment data will come in and the pace of wage increases will also become clear. During such periods, investors are usually much more cautious on days of decline. In the past years, Fed meeting weeks would generally see investors remaining cautious.
However, the widespread sentiment that the interest rate ceiling has already been announced and that reductions will start soon has been weakening the negative impact of Fed weeks for a while. BTC is at $42,250 as this article is being prepared.
The $40,400 level we previously emphasized was temporarily lost but regained. Following this, the main target is closing above $43,500. If the bulls can achieve this, they can aim for $49,000 again after $46,525 and $47,950. In the opposite scenario, a deeper correction to $38,500 and then to $34,000 is expected.
AVAX Price Prediction
$31.4 was a key price region for AVAX. It was lost with the BTC drop but regained, and the popular altcoin returned to the $35 limit. Now it can aim for the $50 target after overcoming the $37 resistance and then $41.7 and $43.4. Just as $100 is an important threshold for SOL Coin, $50 is the same for AVAX.
In the opposite scenario, a drop to $24.7 and then $19.6 could be seen.
MANTA Coin Commentary
This is a very new altcoin and was only launched for trading 11 days ago. It has been reaching higher levels for days, constantly pushing its ATH higher, made possible by increasing investor interest. However, today’s peak has not surpassed yesterday’s, and the price may now be signaling the start of a downturn.
As this article is being prepared, the price of MANTA Coin is at $3.69. If it cannot sustain above $3.88, it could fall to $3.46 and then $3.33, followed by a potential drop to $2.85. Subsequently, it could attract new demand and return to support levels. Sudden fluctuations in BTC price could trigger the downward scenario.
