Price analysis 5/3: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC
Investors seem to have priced in a 25 basis points rate hike by the United States Federal Reserve on May 3. Next, they will look for clues on the Fed’s actions for the rest of the year.
Will the Fed maintain its hawkish stance as inflation still remains well above its target range or will the bank troubles and the looming recession make the central bank signal a pause in its rate hikes?
The World Economic Forum Chief Economists Outlook report released on May 1 shows that 80% of the chief economists believe that central banks have to maintain a delicate balance between “managing inflation and maintaining financial sector stability.” The economists anticipate that the central banks will find it difficult to bring down inflation to their target levels.
Arthur Hayes, the co-founder and former CEO of crypto derivatives exchange BitMEX, in an exclusive interview with Cointelegraph, cautioned investors that investing in assets "outside of the traditional financial system” is the only way out if they want to preserve their capital.
Could Bitcoin (BTC) and altcoins start an up-move after bouncing off key support levels? Let’s study the charts of the top-10 cryptocurrencies to find out.
The price action of the past few days has formed a symmetrical triangle pattern in Bitcoin. Generally, the symmetrical triangle acts as a continuation pattern and the price breaks out in the direction that was prevalent before the formation developed.
However, it is better to wait for the price to complete the breakout before waging any new bets because sometimes, the setup behaves as a reversal pattern.
The flattish 20-day exponential moving average ($28,642) and the relative strength index (RSI) near the midpoint do not give a clear advantage either to
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