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As the weekend approaches, the lack of volume in cryptocurrencies becomes evident, with total volume dropping to $80 billion. Bitcoin 
$84,665 dominance remains strong, bringing the total market value of cryptocurrencies back to $2.75 trillion. Meanwhile, Ethereum 
$1,938 continues to hover below $2,000. What are the expectations moving forward?
Federal Reserve Week Begins
It’s crucial to note that we are entering Federal Reserve week. On March 19, the Fed is expected to announce its interest rate decision, likely maintaining rates. However, recent reports on core PCE, PPI, and CPI may embolden the Fed regarding potential cuts. As recession fears escalate in U.S. markets, the Fed should avoid a hawkish stance.
Typically, during Fed weeks, both sides of the market exhibit volatility, though the downward pressure has been predominant. Yet, positive data could lead Powell to share relatively uplifting insights.
Experts’ Predictions
In today’s assessment, Jelle expressed satisfaction with reclaiming the $84,000 mark. Many experts assert that a key resistance level for bullish movements is at $96,000. Currently, the price sits at $84,800, with Jelle stating:
“After pushing $84,000 for a week, we’re back above it. We want to see this level hold over the weekend to aim for the next $90,000. If we reclaim this level, PO3 will come into play. That could be interesting.”
Titan of Crypto highlighted a bullish signal in the four-hour chart, indicating that a close above $83,800 could lead to continued upward movement. Conversely, the analyst also warned of a swift pullback to $80,000 if conditions shift.
Mister Crypto anticipates that Ether, which has had a rough first quarter, is on the verge of a turnaround.
If ETH manages to initiate a significant winning streak in April, it could provide substantial relief for altcoins as well.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
