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Both Bitcoin and Ethereum had a quiet weekend, with the two most important cryptocurrencies in the market trending sideways within very tight ranges, and sending no signals favoring the upside or the downside for the start of the week.
Recall that before the weekend, the trend was also uncertain on the price of BTC and that of ETH, despite a dense macroeconomic program. Notably, Fed boss Jerome Powell had suggested during his talk at the Jackson Hole symposium that the Fed might not be done with raising rates.
The fate of Bitcoin and Ethereum may hinge on 2 key stats this week
Indeed, Powell was surprised by being more hawkish than expected, which kept the pressure on Bitcoin and Ethereum, but did not generate new major lows. In this context, the US statistics expected this week will have to be watched very closely.
Indeed, strong data could fuel the idea that the Fed will continue to hike rates, after a possible pause in September, which would send the Dollar surging, with a downward impact on digital assets such as BTC and ETH. Conversely, disappointing economic data would be a relief for cryptocurrencies.
But key data is due out this week, including the PCE household spending price index, which most economists consider the Fed's most closely watched measure of inflation, to be released on Thursday.
The other major event in the next few days will be the publication of the NFP report on US job creation for August, on Friday afternoon. Before that, it is possible that uncertainty will continue to reign over cryptocurrencies and risky assets in general.
Uncertainty continues to dominate BTC/USD and ETH/USD charts
From a technical analysis perspective, both Bitcoin and Ethereum are showing uncertain trends in the short term, within background trends that are leaning to the downside.
Bitcoin is hovering around $26,000
With regard to Bitcoin, it should be noted that the cryptocurrency oscillates around a pivot located around $26,000.The first significant hurdle to consider on the upside will be last week's high of $26,800, then the $27,000 bottom, and the 200-day moving average at $27,443. On the downside, last week's low at 25,350 will be the first potential support before the $25,000 level, then the June 14th low at $24,800.
Ethereum could aim for 1500 if the bears take over
From the point of view of the Ethereum price, it is the threshold of $1650 that serves as a pivot, between a first resistance at $1700, and first support at 1580/1600 $.
Above $1700, little resistance can be spotted before $1800. If, on the other hand, Ethereum takes the downward path, and breaks below $1580, the major psychological threshold of $1500 should be quickly targeted.
In other words, the chart trends for Bitcoin and Ethereum are currently in no way encouraging buying, and the major US economic indicators expected this week represent a risk that could tip the scales on the side of the sellers.
In such an environment, experienced traders know that it is most of the time best to steer clear of major cryptocurrencies, and often exploit these downtimes to explore opportunities away from the headliners of the cryptocurrency market. digital assets.
Following this advice, we took the time to study several new cryptocurrencies currently on presale, and one of them particularly caught our attention. This is yPredict, whose native token is YPRED.
Discover YPRED, the native token of the predicted AI trading platform
More than just a speculative cryptocurrency, YPRED also serves as a ticket to the prediction platform, which uses advanced artificial intelligence to revolutionize cryptocurrency trading.
Thus, participating in the presale of YPRED gives access to a wide range of innovative tools. These include AI-driven real-time trading signals, a market sentiment analysis tool, a chart pattern detector, and a comprehensive set of decision-making resources.
These tools have been developed by trading professionals with the aim of improving your trading performance and providing you with the information needed to make informed decisions in the highly volatile cryptocurrency market.
However, access to the platform is not the only benefit of purchasing YPRED . It is expected that YPRED will soon be listed on cryptocurrency exchanges, which means that its price will fluctuate according to supply and demand. However, taking into account the massive success of the presale, which has already raised more than 3.5 million dollars, it is very likely that the price of yPredict will skyrocket once it is available on your usual cryptocurrency platform.
Additionally, investing in yPredict during the presale allows you to acquire the token at a significant discount from the expected price of $0.12 when listing on DEXs. The current fifth phase of the project presale indeed allows you to acquire YPRED tokens for only $0.10 each.
Finally, in addition to being an investment with high potential and providing access to a revolutionary platform, investing in yPredict also means securing a source of passive income. Presale participants will indeed benefit from a revenue share linked to the subscription fees paid by new users who will join yPredict after the presale period.
There is therefore no shortage of reasons to be interested in the yPredict project and its YPRED token, and we therefore recommend that you find out more without further delay!
