$ETH Federal tightening, strong rate hike expectations, increasing probability... Spot trading now - Monero and Zcash prices decline amid macroeconomic pressures:

The market's response to macroeconomic stress has led to a drop in the value of Monero and Zcash:
The broader cryptocurrency market remains under pressure following Federal Reserve Chair Kevin Warsh's comments at his first press conference after the meeting on Wednesday.
Nevertheless, the entire crypto market is still under pressure after Fed Chair Kevin Warsh's speech at his first press conference after the meeting on Wednesday.
The Federal Open Market Committee kept interest rates unchanged, meeting market expectations, but what worried investors was the Fed's hawkish stance, emphasizing price stability and the need to reduce inflation to the long-term target of 2%.
The Federal Open Market Committee maintained interest rates, in line with market expectations, but what concerns investors is the Fed's hawkish stance, emphasizing price stability and the necessity to bring inflation down to the long-term target of 2%.
Warsh's remarks indicated that the central bank appears comfortable with the current situation but is not yet ready to announce a shift toward rate cuts. In fact, the possibility of a rate hike has resurfaced, with market participants currently betting on a 30% chance in the next review.
Warsh's statements suggest that the central bank seems satisfied with the current situation but is not yet prepared to announce a shift toward lowering rates. In reality, the chance of a rate hike has re-emerged, with market participants currently estimating a 30% probability in the upcoming review.
Fed Watch | Source: CME Group
Fed Watch | Source: CME Group
Sentiment worsened further, as shown by the Fear and Greed Index, which settled at 15 points in the extreme fear zone on Thursday, down from 22 points the previous day. This indicates that investors are cautious about risky assets, and their exposure is likely to remain limited in the near term.
Sentiment further deteriorated, as seen from the Fear and Greed Index, which stabilized at 15 points in the extreme fear zone on Thursday, down from 22 points the day before. This shows that investors are cautious about risky assets, and their exposure is likely to stay limited in the short term.
Crypto Fear and Greed Index | Source: Alternative
Cryptocurrency Fear and Greed Index | Source: Alternative
- Monero extends correction:
Monero continues its adjustment:
XMR's price remains confined below the middle Bollinger Band around $340 and below all major exponential moving averages, with the 50-day EMA near $359, while the 100- and 200-day EMAs hover slightly above $366.
The price of XMR is still restricted below the middle Bollinger Band around $340, and below all key moving averages, with the 50-day EMA near $359, while the 100- and 200-day EMAs are just above $366.
However, the positive chart signals from the daily Moving Average Convergence Divergence (MACD) indicator and the Money Flow Index (MFI) around 65 suggest improving bullish momentum, but these indicators only indicate corrective rebounds as long as the spot price remains below this high level.
However, the positive signals from the daily MACD and the Money Flow Index (MFI) around 65 indicate improved upward momentum, but these indicators only suggest corrective rebounds as long as the spot price stays below this high level.
Daily chart of XMR/USDT
Daily chart of XMR/USDT
Meanwhile, initial resistance is seen at the middle Bollinger Band near $340, followed by the 50-day EMA at around $359. Above that, the 100- and 200-day EMAs around $367 form a broader barrier before the upper Bollinger Band near $389. On the downside, the lower Bollinger Band at around $291 acts as a key support. A break below this level could lead to further decline despite the current positive market momentum.
Meanwhile, initial resistance is at the middle Bollinger Band near $340, followed by the 50-day EMA at about $359. Above that, the 100- and 200-day EMAs around $367 form a wider barrier before the upper Bollinger Band near $389. On the downside, the lower Bollinger Band at approximately $291 provides important support. Breaking this level could lead to further decline despite the current positive market momentum.