ETHEREUM - ETH/USD - ETHUSD looks north - 05/16/2024 (GMT)
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- Timeframe : 30 min.
ETHEREUM - ETH/USD Chart
ETHUSDT is recovering after a long consolidation. As BTCUSDT has grown substantially after a weak inflation publication yesterday, ETH is still lagging, and the spread between Bitcoin and Ether has reached the extremely "overbought" zone, pointing to a potential of a rotation to ETH from BTC.
Overall market conditions stay bullish, as inflation is declining: April was the first month of reduced US CPI reading.
The interest rate decline probability had increased for September this year, and yields of 30-year treasury bonds have crossed 4.5% from above.
That is a potentially bullish situation for stocks and cryptos.
Don't forget - these are just the ideas, always manage your risk and DYOR!
Overall market conditions stay bullish, as inflation is declining: April was the first month of reduced US CPI reading.
The interest rate decline probability had increased for September this year, and yields of 30-year treasury bonds have crossed 4.5% from above.
That is a potentially bullish situation for stocks and cryptos.
Don't forget - these are just the ideas, always manage your risk and DYOR!
This member declared not having a position on this financial instrument or a related financial instrument.
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