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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/market-volatility-surrounds-cryptocurrencies-during-federal-reserves-decision-day" rel="noopener noreferrer nofollow">Market Volatility Surrounds Cryptocurrencies During Federal Reserve’s Decision Day</a><br></p>
<p style="text-align: justify">On a day marked by the Federal Reserve’s interest rate decisions, cryptocurrencies experienced initial declines followed by gains, with <a href="https://en.bitcoinhaber.net/proshares-bitcoin-strategy-etf-faces-sharp-decline-in-trading-volume" rel="noopener noreferrer nofollow">Bitcoin</a> reaching $43,300 before facing a swift downturn. Such days are characterized by heightened volatility, urging investors to exercise increased caution.</p>
<h2 id="neo-coin-s-market-performance">NEO Coin’s Market Performance</h2>
<p style="text-align: justify">NEO Coin, once a popular choice among cryptocurrencies, has been struggling beneath a long-term resistance level since February 2023. Despite several attempts to break this resistance, including one at the start of the year, it remains intact.</p>
<p style="text-align: justify">Following a drop to $9.8 on January 23, NEO Coin is showing signs of recovery, mirroring the broader cryptocurrency market. The daily RSI is ambiguous, but the repeated testing of the resistance suggests a potential for a sharp increase in value if the resistance is eventually broken.</p>
<p style="text-align: justify">The shorter-term 6-hour chart reveals NEO Coin’s price movement within a decreasing parallel channel for 86 days, typically indicative of corrective patterns. However, the recent support response and volume surge hint at a bullish outlook, with experts like GeniiAlert and Crypto Chart Monkey anticipating a continued rise in price.</p>
<p style="text-align: justify">Elliot wave analysis suggests the completion of a W-X-Y correction for NEO Coin, and if the correction has ended, the price might surge by 30% to reach the $14.8-15 range. Despite this optimistic forecast, a fall below the short-term resistance could lead to a retest of the $9.8 level. The market sentiment remains positive, with expectations of a moderate stance from Powell and a slowdown in GBTC outflows, giving investors hope for February.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/market-volatility-surrounds-cryptocurrencies-during-federal-reserves-decision-day" rel="noopener noreferrer nofollow">Market Volatility Surrounds Cryptocurrencies During Federal Reserve’s Decision Day</a></h5>

Market Volatility Surrounds Cryptocurrencies During Federal Reserve’s Decision Day

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