Federal Reserve Chair Jerome Powell is set to deliver a keynote speech at the Jackson Hole Economic Symposium, hinting at potential interest rate cuts. The current Fed benchmark rate is at a 23-year high, between 5.25% and 5.50%, but with cooling inflation and a stabilizing labor market, there is growing speculation that rate cuts may begin as early as September. The speech is highly anticipated by investors, with expectations that Powell may signal a rate cut on the horizon, potentially setting the tone for market trends in the coming months.
Bitcoin is currently trading just above $60,000, supported by an ascending triangle pattern that could signal a bullish breakout if the support level is maintained. The immediate resistance lies at $61,800, with further resistance levels expected if Bitcoin continues to rise. On the downside, support levels are at $59,800, $57,883, and $56,151, with the 50-day EMA offering additional support to maintain the bullish sentiment. The RSI is neutral at 54, suggesting room for further upside potential.
Despite the recent surge in meme coins, $PEPU, also known as Pepe Unchained, stands out as a potential addition to your crypto portfolio. With a presale opportunity that could lead to significant gains, as well as a 499% APY staking feature, $PEPU offers an attractive passive income stream. The smart contract for Pepe Unchained has undergone thorough audits by Coinsult and SolidProof, ensuring a secure investment for those looking to diversify their portfolios.
Popular crypto YouTuber Jacob Crypto Bury has endorsed the potential of $PEPU and meme coins in general, highlighting the benefits of investing in projects like Pepe Unchained during the presale phase. With a recent milestone of $10 million raised out of a $10,208,712 goal, the project has garnered attention from investors seeking new opportunities in the crypto space. Interested investors can acquire $PEPU with ease using ETH, USDT, BNB, or a credit card, with the presale approaching its next price increase.
As with any investment in the crypto space, it is essential to note that crypto assets are high-risk and volatile. This article serves as informational content and does not constitute investment advice. Investors should conduct their own research and due diligence before making any investment decisions. With the potential for market shifts following Powell’s upcoming speech and the bullish breakout potential of Bitcoin, staying informed and vigilant in the crypto market is crucial for success.
