Donald Trump’s upcoming visit to the Federal Reserve building is expected to have significant implications for the cryptocurrency market. While there was no progress on a tariff agreement with the European Union this week, the crypto domain remained volatile but stabilized after recent declines. Traders and enthusiasts are keenly observing this visit to gauge its potential impact on digital currencies such as AVAX, ADA, BNB, and XRP over the weekend.
Will AVAX and ADA React to Economic Changes?
Disagreements over tariffs have historically posed challenges for cryptocurrencies, and the potential removal of Powell could further complicate the landscape. Anticipated news could lead to short-lived surges but are likely to usher in longer-term negative repercussions. Powell’s decision next week on interest rates and the imposition of U.S. tariffs similar to those seen in April indicate a lack of positive surprises on the horizon.
Cryptocurrency news does not always translate to chart movements; however, any significant indicators this weekend might forecast downward trends. A shift in the market could usher altcoins back to support levels. Should there be delays, market activity is expected to stimulate by Friday, potentially inciting another decline.
How Will BNB and XRP Weather the Storm?
Binance’s BNB Coin experienced an eventful trajectory in recent weeks, nearing the $810 mark, aiming for a four-digit valuation. The price struggles around previous all-time highs, with the potential for resurgence should it sustain above $780.
- AVAX has seen rebound movements, yet concerns over inflation and competition persist. Prices may fluctuate between $22.8 to $27, with a break in support signaling a drop to its $20.5 base.
- ADA has demonstrated resilience, testing the $0.765 support level. Recovery indicators are at $0.807 and $0.843 with pressure remaining due to broader market sentiment.
- Persistent fluctuations characterize BNB Coin, with a potential opportunity approaching $730, conditional on market sentiment stability.
- XRP’s trajectory sees challenges as profit-taking came after achieving $3.6. Preservation above $3.4 is crucial to encourage upside momentum.
As Trump’s actions at the Federal Reserve unfold, traders must remain vigilant of the influential impact on cryptocurrencies. The anticipated decisions and statements are likely to steer the digital asset trends this weekend, shaping the strategic moves in the financial landscapes. The crypto community is advised to brace for possible strategic shifts and adjust their portfolios accordingly to manage potential market movements.
