The cryptocurrency market is currently in a mixed environment, with cautious optimism prevail due to ongoing economic concerns. Major cryptocurrencies are trading in a narrow range ahead of key U.S. Federal Reserve policy decisions.
Bitcoin (BTC) remains consolidating around $47k, while Ethereum (ETH) shows signs of weakening after a minor correction attempt last week. Binance Coin (BNB) and Solana (SOL) are also in a correction phase as market participants await broader economic data.
Cardano (ADA) could see some rebound momentum if the bearish trend reverses, but risks remain due to ongoing corrections across the sector. Avalanche (AVAX) is bearish with bearish indicators like price breakdowns and divergent sentiment signaling weakness.
Chainlink (LINK) is facing bearish pressure ahead of a critical floor test at $20, while Ripple (XRP) may hit resistance near its 50-day moving average. Shiba Inu (SHIB) remains bullish but cautious amid increased institutional interest.
Short-term price support/resistance for altcoins includes $31 for XRP and $7 for Toncoin (TON). The broader market faces headwinds, with corrections signaling potential risks ahead of key Fed data points next week.
Investors are advised to conduct their own research due to the high-risk nature of cryptocurrency investments.
