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Reading: SP500 drop and possible effects on the crypto market
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EdaFace Newsfeed > Latest News > Crypto News > SP500 drop and possible effects on the crypto market
Crypto News

SP500 drop and possible effects on the crypto market

vitalclick
Last updated: February 24, 2025 4:23 pm
3 months ago
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The harsh decline of the S&P 500, one of the leading US indices on Friday, increased the expectations of a cautious approach in financial markets. The index shows the worst performance of the year, while technical data shows that there may be more downward movement for the rest of the week. This is likely to be reflected in the crypto money market. In the past, it was observed that large -scale decreases in American stocks were effective in crypto currencies in similar ways.

SP500 technical formationsCrypto Money Market and Technical Analysis

SP500 technical formations

Analysts say that the S&P 500 is a rising formation and a sloping double or triple peak patterns. These formations indicate that prices can achieve a weaker orientation over time based on 5,800 levels. The specified breaking points point to 5.777 and 5.131 levels, respectively. In the past, similar formations were experienced and the index had withdrawn from significant levels.

Crypto Money Market and Technical Analysis

Bitcoin $95,701.32Ethereum $2,682.11 And it is predicted to affect leading crypto assets such as XRP. According to market analysis, similar formations are observed in the technical graphs of these assets. It is recommended that investors closely monitor the determined resistance and support levels.

On a single screen instant prices, important data, news, latest developments, comments and discussions at Chat! Come right away from your eyes!



Bitcoin’s daily graph, $ 108.380, the double peak formation is considered a risk sign. In contrast, the positive intersection that the MACD indicator will soon create can signal the upward movement. This may increase the likelihood that the price will recover again.

Ethereum, on the other hand, formed a death crossing formation with the intersection of 200 -day and 50 -day moving averages.

In the XRP analyzes, the shoulder-head-form formation signals and fall below the 50-day average. In the XRP, which is below the critical support levels determined, the risk of sudden price decreases is evaluated. Technical indicators reveal that the presence may be weaker in the short term.

The general uncertainty in the markets requires investors to closely follow technical formations. Both the index and the crypto currency market warning that cautious steps should be taken. The specified breaking points and support levels are considered important reference points in the evaluation of possible risks.

Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.

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