Bitcoin and altcoins correct as this week's US economic reports show inflation making a small comeback.
Bitcoin and select major altcoins are under pressure as the September Producer Price Index report shows wholesale inflation surged to 0.5%, exceeding the markets' expectation.versus expectations for a 0.3% increase. This shows that the inflation pressures are unlikely to ease in a hurry for the United States economy.
If the price rebounds off the 50-day SMA, the bulls will attempt to propel the price above the 20-day EMA. That could open the doors for a potential rally to $28,143. The next trending move is likely to begin on a break below $203 or on a rally above $220. If the $203 support gives way, the BNB/USDT pair may crash to $183. On the contrary, a rise above $220 could open the doors for a potential rally to $235 and thereafter to $250.Buyers could not build upon the breakout above the symmetrical triangle and overcome the barrier at $0.56.
If they fail to do that, the bears will continue to put pressure on the $0.055 support. If this level cracks, the DOGE/USDT pair could retest the pivotal support near $0.05. This level is again expected to attract solid buying by the bulls.
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