Best Crypto to Buy Today 21 December – FGHT, TWT, D2T, AXS, CCHG
Broader cryptocurrency markets are in consolidation mode on Wednesday as traders await the release of the final major batch of US economic data of the year later this week, which includes the important PCE inflation report that is closely watched by the US Federal Reserve.
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The Fed’s aggressive rate hikes in 2022 to tackle scorching hot US inflation has been cited by analysts as the main cause of the 2022 crypto bear market.
Bitcoin was last changing hands in the $16,800s and broadly flat on the day, meaning it is thus holding onto the bulk of Tuesday’s gains that saw it rebound from the $16,400 area.
But technicians remain pessimistic about the world’s largest cryptocurrency by market capitalization’s prospects for a further rebound after it found resistance at its 21-Day Moving Average (at $17,050) on Tuesday.
Ethereum, meanwhile, is also consolidating under resistance in the $1,210s, while the broader cryptocurrency market cap is hovering little changes near $770 billion.
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