JD
BlackRock, the world's largest asset manager, has announced the launch of its first tokenized fund, BUIDL, on the Ethereum network. BUIDL aims to provide investors with exposure to a diversified portfolio of companies involved in the blockchain and cryptocurrency ecosystem. This move marks a significant step for BlackRock into the digital asset space, highlighting the growing acceptance and adoption of blockchain technology in traditional finance. The fund's tokenization on the Ethereum network is expected to enhance liquidity and accessibility for investors, opening up new opportunities in the rapidly evolving digital asset market.
From the BTC chart above, we can see there is a minor resistance at the price of $68,300 and on March 18th, the price of BTC was unable to break above $68,300. On Tuesday, ahead of the FOMC meeting to decide on interest rates, the price of BTC experienced a significant correction of 8.39% in a single day.
After the meeting results were announced, which decided to keep interest rates unchanged, the market reacted positively. The following day, the price of BTC appreciated by 9.53%. However, on the next day (21/03), despite the unchanged interest rates sentiment, the price of BTC still failed to break through the minor resistance at $68,300.
The price of BTC gradually declined but remained supported at the $62,500 level. As of March 25th, BTC has been ranging between the support at $62,500 and the minor resistance level at $68,300.
Ethereum (ETH) is expected to maintain a bullish trend. Our analysis predicts that ETH could potentially reach a target price of $3,500, indicating significant upside potential. The key support levels are at $3,200 - $3,000, suggesting a solid foundation for Ethereum's price. Moreover, if it can sustain above the support level of $3,200 - $3,300, this could lead to further gains in the near term, potentially reaching $3,500. Overall, the outlook for Ethereum remains positive, with the potential to continue its upward trend in the coming days. Additionally, if it manages to break above the $3,500 price level, there is a chance of an increase to the $4,000 level.
Solana (SOL) has recently experienced a slight correction after crossing the $200 mark. The correction comes after SOL surged past this key psychological level, indicating a potential shift in market sentiment.
The correction in SOL's price is seen as a healthy consolidation after a strong rally, providing an opportunity for traders to enter the market at lower prices. However, traders are advised to exercise caution and closely monitor key support levels around $166 - $170 to gauge the strength of the current uptrend.
This material is for general information and is not investment advice, a recommendation, or solicitation to buy and sell any cryptocurrencies, digital assets, securities or derivative instruments, or to make any investments. Mobee is under no obligation to update this report based on information and events that occurred after this report was created and published. Any suggestions or recommendations in this report may not be appropriate for certain users.
