With the Federal Reserve's interest rate decision imminent, a significant shift has been observed in the ETHBTC pair, potentially signaling a breakout. Charts for SEI and XRP Coin, however, present cautionary signals. This analysis examines three critical charts just moments before the anticipated announcement to understand the potential market movements.
ETHBTC Breakout Potential
After a prolonged period of decline, the ETHBTC pair appears to be reversing its trend, according to analyst observations. While not yet reaching its year-to-date highs, the pair shows promise for further upward movement. A key chart indicates optimism for an "alt season," supported by the MACD indicator gaining momentum. A continued rise in ETHBTC could facilitate a resurgence for altcoins.
Many market analysts now question the continued relevance of the traditional four-year market cycle. This sentiment is shared by analyst Sherpa, who noted:
“I think the four-year cycles have ended, and as a general result, we will likely see higher base levels (no BTC declines over 70% as in the past), yet also significantly lower increases (like in 2017, like in 2021). Year after year, it will be increasingly challenging to achieve significant gains.”
This evolving market dynamic is attributed to the increasing influence of ETF investors over exchanges, and a shift in market volatility from spot trading to leverage.
Analysis of XRP and SEI Coin
XRP Coin has fallen below its critical support level at $2.08. Despite a generally favorable outlook for Bitcoin, XRP's decline is a point of concern. With anticipated volatility increases following the Federal Reserve's announcements, the broader altcoin market may be preparing for further downward price movements.
In contrast, analyst DaanCrypto expresses optimism for SEI Coin, stating:
“SEI has been trading in a narrow range for the past three weeks. We observed a deviation to a higher low below. Should the highest point of the range and resistance be breached, a stronger movement might follow, particularly following such an extended price range and consolidation.
This Xiaomi news might provide the momentum necessary for this breakout. It grants access to an enormous new market, making me curious about how it will aid in ecosystem adoption.”
A new financial application, developed with Sei's technology and designed for stablecoin payments, is slated for integration with the Xiaomi mobile ecosystem. This application will be pre-installed on new Xiaomi devices, a significant announcement made recently.
Analyst Columbus anticipates no immediate short-term issues for XRP Coin.
“The LTF looks clean – good consolidation is forming.
There isn’t a lot of data yet, but if we break and reverse the local trend line, I will be looking for a long-term position. We’re also at the local range’s lowest point, so a simple range-to-range movement toward the peak levels will occur.
Short-term trend: Until this low level changes, it’s upward.”
