Bitcoin, Ethereum Technical Analysis: BTC Consolidates as Markets Prepare for 0.75% Rate Hike – Market Updates Bitcoin News

) was trading below a key resistance level on Tuesday, ahead of tomorrow’s Federal Open Market Committee meeting./USD slipped to a low of $20,287.46 earlier today.

Market uncertainty has spiked in anticipation of the FOMC meeting, with many expecting the Fed to increase rates by 0.75%.As can be seen from the chart, price volatility also comes following a failed surge in price strength, with the relative strength index recently failing to break a ceiling of its own.

The threat of a rate hike has boosted U.S. dollar strength, which appears to be one of the factors behind today’s consolidation.EthereumFollowing a peak of $1,630.45 to start the week, the world’s second largest cryptocurrency moved to a low of $1,555.92 today.

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