In a week marked by significant movements in the crypto world, Bitcoin (BTC) faces volatility following the Federal Reserve’s latest interest rate decision. As investors digest the implications, Ethereum (ETH) is struggling to maintain its position at the critical $3500 level, reflecting the broader market’s uncertainties. Amidst these fluctuations, Furrever Token (FURR) is carving out a niche with its innovative 10% referral program and charming cat-themed appeal. This new entrant is not only captivating crypto enthusiasts with its unique approach but also promises lucrative passive income opportunities, shaking up the meme coin sector with a fresh, community-driven vibe.
Bitcoin (BTC) After the Fed Interest Rate Decision
The focus was on the interest rate decision announced yesterday for the leading cryptocurrency Bitcoin (BTC). After the Fed decided to keep interest rates unchanged, Bitcoin (BTC) initially moved upwards but failed to maintain its position above the 69k resistance level and retreated to its previous levels. Bitcoin (BTC), with a market cap of $1.327 trillion, started yesterday at $67,314 and tested $69,999 before the Fed’s decision. Post-decision, it pulled back and closed the day at $68,263 with a 1.41% increase. Starting today negatively, Bitcoin (BTC) is currently trading at $67,461, a 1.18% loss, above the EMA55 support.
Bitcoin (BTC) Chart Analysis
Bitcoin (BTC) dropped from $72k to $56k between March and May 2024, then tested the $72k resistance again last week. After the Non-Farm Payroll data from the United States, Bitcoin (BTC) faced strong selling pressure at the $72k resistance and closed the week at $69,648 above the $69k support. Examining the daily chart of Bitcoin (BTC), we see that selling pressure increased before the Fed’s interest rate decision, and although Bitcoin (BTC) made an upward move post-decision, it couldn’t close above $69k and is currently trading at $67,461. The support levels for Bitcoin (BTC) are EMA55 at $66,813 and EMA100 at $64,099. Without daily closes above $69k, the likelihood of a rise for Bitcoin (BTC) remains weak.
Ethereum (ETH) Struggles to Hold at $3500
Following Bitcoin (BTC) as the second-largest cryptocurrency, Ethereum (ETH) with a market cap of $419.49 billion, started yesterday at $3,497.0 and tested $3,655.9 after the Fed’s interest rate decision, closing the day at $3,558.7 with a 1.75% increase. Like Bitcoin (BTC), Ethereum (ETH) is currently trading at $3,494.5, a 1.80% decrease, above the EMA55 support level.
Ethereum (ETH) Chart Analysis
Ethereum (ETH), ranked second after Bitcoin (BTC), continued its downtrend from $4k in March to the $2,858 support level. Before the spot ETF approval news, Ethereum (ETH) rebounded sharply from the $2,858 support and broke the two-month downtrend. After receiving spot ETF approval, Ethereum (ETH) traded between the $3,750-$3,950 range (shown in purple on the chart) for three weeks. However, after the Non-Farm Payroll data from the US, the selling pressure on Bitcoin (BTC) affected Ethereum (ETH) as well, causing it to break below the $3,750-$3,950 range and remain above the EMA21 support for four days. The increased selling pressure before the Fed’s interest rate decision negatively impacted Ethereum (ETH), which is now trading just above the EMA55 support level at $3,525.4. If the selling pressure continues, the nearest support levels for Ethereum (ETH) will be EMA55 at $3,481.6 and EMA100 at $3,330.0.
Furrever Token (FURR) Shakes Up Meme Coins with 10% Referral Program and Cat-Themed Appeal
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The Furrever Token presale has already raised over $1.3 million, currently in stage 9, with a target of $1.9 million. Priced at $0.000732 per token, with the potential for up to 15X returns, it offers a compelling investment opportunity. Supported by a thorough audit from Securi Lab, Furrever Token promises a secure and reliable platform for its users. The project’s roadmap includes continuous integration of cat-themed content and exciting future surprises, positioning it as a unique and enjoyable investment in the crypto space.
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