Source: Cointelegraph/TradingViewThe RSI dropped to 38 on May 19 from overbought conditions at 86 on May 9, indicating increasing bearish momentum as profit-taking intensifies. Popular crypto analyst Michael van de Poppe said Ether’s price below $2,400 was a “steal,” providing a buy-the-dip opportunity before ETH resumes its rally toward all-time highs.
This downgrade, the first from Moody’s since 1919, has rattled financial markets, pushing Treasury yields higher and triggering “risk-off” sentiment.“Yields are surging again following the Moody’s downgrade on Friday,” said capital markets commentator, The Kobeissi Letter, in a May 19 post on X, adding:“Trade deals, recession worries, lower inflation, and slowing GDP all can’t get lower yields.”Increasing US Treasury Bills.
Source: The Kobeissi LetterHigher yields increase borrowing costs, hurting businesses and consumers, especially amid recession fears and fiscal concerns. Meanwhile, the US Federal Reserve remains adamant about not cutting rates, with market participants pricing in only two possible rate cuts in 2025, according to the CME Group FedWatch Tool.
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Author / Journalist: Cointelegraph by Nancy Lubale
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