Fed's Waller Rejects Trump's Call for Rate Cuts, Reaffirms Central Bank Independence

A Fed member's harsh response to a rate cut demand could negatively impact risk appetite in cryptocurrency markets. JST's RSI is at 40.6, approaching below the neutral zone, while the MACD remains below the signal line. The price trading below both the 20-day and 50-day moving averages indicates short-term weakness. The 3.8% decline in the last 24 hours suggests continued selling pressure. Therefore, I believe the downward movement may persist in the short term.

The DXY is trading above its 20- and 50-day moving averages, with the RSI at 56.7, indicating a neutral zone. The MACD line is above the signal line, presenting a positive outlook, though the gap is narrowing. Fed member Waller's strong response to Trump's demand for rate cuts could weaken short-term rate cut expectations, potentially supporting the DXY. However, the market may have largely priced in this news, and a sideways movement at current technical levels could be expected.

The news reflects policy tensions between the Fed and Trump, which could create short-term uncertainty. Technical indicators show the RSI approaching overbought territory at 67, while the MACD is positive but above its signal line. The price is trading above the 20- and 50-day moving averages, supporting an uptrend. However, political pressure and the Fed's hawkish stance may lead to a cautious market mood. Given short-term direction uncertainty, a neutral stance is recommended.

Fed Governor Waller's sharp response to Trump's demand for interest rate cuts could weaken market expectations for rate cuts. With the NDX approaching overbought territory at an RSI of 61.5, a short-term correction may occur. Although the MACD is positive, the uncertainty created by the news may limit upward momentum. Technically, while the index remains above the SMA20 and SMA50, a pullback within 1-3 days is highly likely due to the impact of the news.