How the Fed's Interest Rate Decision Affects Cryptocurrencies
Federal Reserve's Interest Rate Decision: The Federal Reserve announced a 25 basis point cut in interest rates, with plans to purchase $40 billion in treasury bonds over the next month, while maintaining a cautious outlook on future adjustments.
Economic Projections: The Fed's median predictions indicate interest rates at 3.4% by 2026 and 3.1% by 2027, with a slight increase in unemployment rates and moderate economic growth.
Diverse Opinions Among Officials: The decision to cut rates was favored 9-3, with some officials advocating for more significant cuts while others preferred no decrease, reflecting differing views on the economic outlook.
Impact on Cryptocurrencies: The interest rate decision has implications for cryptocurrencies, with Bitcoin and Ethereum showing significant movements prior to the announcement, highlighting the interconnectedness of monetary policy and digital assets.
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Technical Analysis for IMX
Technical Sentiment Analysis for Immutable (IMX) As of , Immutable (IMX) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for IMX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, IMX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Immutable (IMX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0506 | 0.0898 | 0.13 | 0.169 | 0.209 | 0.248 | 0.289 |
| Fibonacci | 0.0898 | 0.12 | 0.139 | 0.169 | 0.199 | 0.218 | 0.248 |
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