Cryptocurrencies Price Prediction: Binance, Polygon & Bitcoin – American Wrap 25 May
Here’s why US PCE could make or break Bitcoin price rally to $30,000
US core Personal Consumption Expenditure (PCE) is a measure that captures inflation across a wide range of consumer expenses. The core PCE is considered a reliable indicator of inflation and the measure influences market participants’ sentiment towards risk assets like Bitcoin and cryptocurrencies.
Polygon price stuck in pennant as MATIC heads for an upside breakout to $0.96
Polygon (MATIC) price is currently trading sideways with great respect for the pennant formation that has been present since the beginning of May. With several attempts to the upside for a breakout and some minor dips to the downside, the final result looks to favor the bulls. With pressure building on the topside, a breakout could see a quick rally up to $0.96 with a 10% value addition in the process.
Binance Coin (BNB) price is feeling some negative pressure from the Reuters report that came out earlier this week. It revealed that Binance Exchange has been breaching US financial rules by mixing up company money with client deposits. While the news has settled, Binance LLC is creating negative pressure for itself as it refuses to respond to the allegations and instead tries to prop up the price action for BNB by issuing posts that refer to a bullish breakout soon for altcoins and crypto coins. Building a smoke screen is not the best idea here, and price action confirms this. Traders are sending Binance Coin lower and might say goodbye to $300 in the coming sessions.
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FXStreet Team
FXStreet
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