The movement came after the FOMC Chair Jerome Powell didn’t drop a signal as to when the central bank would start reducing its asset purchases and reiterated his view that current inflations spikes are transitory.
1,856 comes next ahead of the June 1 highs of 1,916.
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In addition to the failures to cross 100-SMA, steady RSI line and an off in the UK also challenge the pair buyers of late.
Ethereum, the no.2 widely traded digital asset, is feeling the pulling of the gravity once, extending its bearish momentum into the second straight day this Sunday.
In his much anticipated speech at the Federal Reserve’s annual Jackson Hole symposium, Powell affirmed what markets have been suspecting for months.
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