Crypto outlook | positive momentum dominates markets

Fundamental data

The crypto markets are showing a slightly positive trend again. In general, upside potential could result from the expectation of an interest rate adjustment by the Fed. A looser monetary policy should open up additional potential here. Based on information from a prime brokerage, repayments from the crypto exchange FTX are also having a positive impact. It is expected that USD 16.3 billion in customer funds will be repaid in the coming months.

Technical analysis:

– BTC: Bitcoin is trading at USD 58,051 and had initially moved downwards last week. However, this was followed by a correction, which allowed the price to move upwards again. The important support zone around USD 55,000 therefore appears to be holding for for now.

The daily chart above promises further potential if the black support zone can be held. The falling trend line in red color has been broken and could now continue its upward momentum. If the range at USD 60,000 can be tested, there could be further potential. In general, however, the market must now move upwards out of the trading range, which continues to show sideways momentum.

– ETH: Ethereum is trading at USD 3,132.00. According to the weekly chart, the price is not far away from the important support zone at USD 2,785. At the moment, however, positive tendencies seem to be prevailing. This could therefore add further upward momentum.

Further support comes from the 50- moving average. This ascending trend line in grey color could also help the market to make further gains. In general, we are still far away from the psychological price level of USD 4,000. Further momentum can only be expected above this level.

– XRP: Ripple is trading at USD 0.5160 and was able to develop strong upward potential last week. New buyers came back into the market at the weekend in particular and were able to move it upwards. Above USD 0.5000, the positive influence of the psychological price mark becomes apparent.

The break of this zone on Saturday last week could now develop further momentum. The monthly chart is also signaling possible momentum, as there are signs of a bottom forming. The break of the 50- moving average zone could continue to have a positive impact. A next target might be the USD 0.6300 area.

– LTC: Litecoin is trading at USD 70.80. The positive trend is also continuing here. The monthly chart shows that the USD 60.00 range appears to be holding. If the momentum continues, there could be potential up to the 50- moving average at USD 85.80.

The red, ascending trend line emphasizes the positive momentum. If there is no downward pressure, Litecoin could also follow the trend of XRP and move upwards again.

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