Overview
Over the last week, the cryptocurrency market slightly went up after the Federal Reserve’s announced a 25-basis point interest rate increase. But after the slight increase, cryptocurrency market remains flat and goes sideways a bit at the time of writing.
Currently, Bitcoin (BTC) fell below $23,000 earlier in the weekend and flattened on Sunday (5/2). Before making any large changes, investors are expected to wait for Federal Reserve Chairman Jerome Powell's next utterances, which is set for Tuesday 12:40 PM (GMT -6).
Bitcoin (BTC) price went down to 3.14%, while Ethereum (ETH) went down for 0.50 % for the last seven days.
Bitcoin Price Analysis
Bitcoin (BTC) remains flat going into the weekend, even after FOMC and unemployment rate announcements.
On weekly candles, RSI has flattened out, hovering at 80 and similarly MACD continues heading towards neutral territory as volume sharply decreases.
BTC's open interest has since dropped significantly, with liquidations in the nearest term being a 50/50 split between longs and short positions.
Ethereum Price Analysis
Ethereum continues its sidewards trend, showing unusual bullish signals that have since simmered down over the weekend.
ETH's RSI on the daily chart has since settled beneath the overbought area, with the expectation that the market will continue its sidewards movement into this week with no major upcoming catalysts.
Disclaimer
This material is for general information and is not investment advice, a recommendation, or solicitation to buy and sell any cryptocurrencies, digital assets, securities or derivative instruments, or to make any investments. Mobee is under no obligation to update this report based on information and events that occurred after this report was created and published. Any suggestions or recommendations in this report may not be appropriate for certain users.
