#ETHUSDT Introduction:
Volatility is increasing amid ongoing uncertainty in the macroeconomic environment
Context:
ETH is consolidating between 2350 and 2550 with several tests of local support and resistance zones. It seems the Clarity law is unlikely to pass, and the Federal Reserve (FOMC) is expected to raise interest rates.
What should I look for:
I monitor the macroeconomic environment and look for breakouts above or below my levels of 2350 and 2550 on a daily basis to indicate momentum in either direction. At the moment, it seems that Clarity Act will not move forward, and an interest rate hike by the FOMC committee is expected. It is reasonable to consider these factors as already priced in, but it is important to follow up alongside tests of local support/resistance areas to determine the direction.
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#FedRateWatch #BitcoinReboundsTo$79K #BessentEndorsesFinalClarityActDraft #Binance