Today marks a significant day in the financial calendar—September 18th, when the Federal Reserve’s Federal Open Market Committee (FOMC) will reveal its decision on interest rates. This announcement is anticipated to have a substantial impact on the markets, particularly as we prepare for the next phase of the crypto bull run.
Key Insights on the Interest Rate Decision
Currently, there has been a noticeable shift in expectations regarding the potential rate cut. Initially, there was a 37% chance of a 25-basis point cut. However, recent developments have increased the likelihood to a 63% chance of a more significant 50-basis point cut. Some political figures are advocating for an even more aggressive 75-basis point emergency cut, though this seems improbable given the continued ascent of the stock market.
Crypto Market Analysis: Altcoins to Watch
In the lead-up to this pivotal event, Kyle Doops from Crypto Banter highlighted several altcoins that could experience significant movements. Below, we delve into the details.
Ethereum Levels to Watch
According to the analyst, Ethereum (ETH) is at a critical juncture. If ETH/USD manages to break above the $2,443 level, this could indicate a structural change and a potential bullish move. The market is currently forming a possible higher low, which might be a precursor to upward momentum.
RUNE: Major Developments and Price Movement
ThorChain (RUNE) is witnessing significant developments. Its founder has recently received approval to operate a fully licensed fund with self-custody for RUNE. This development is noteworthy as it facilitates decentralized fund management and node operation. The analyst observed a potential W-formation in the price chart, suggesting that RUNE could reach higher targets around the $6 mark. RUNE is seen as a strong contender in the next market cycle phase.
Other Altcoins to Watch
- Kaspa (KAS): Kaspa is showing a strong performance and maintaining its upward trend. The analyst recommends waiting for a pullback before considering entry.
- Solana (SOL): Solana is currently lagging but could gain momentum if it reclaims the $160 level. The upcoming Breakpoint conference might act as a catalyst for this shift.
- SUI: SUI is nearing its top boundary. The analyst advises waiting for a pullback to buy at a higher low.
- Injective (INJ): Injective is breaking out of its falling wedge pattern and is approaching significant support levels. A breakout here could lead to notable gains.
- Near (NEAR): Near Protocol is also nearing a support zone. However, the analyst suggests waiting for it to drop lower before making any moves.
Stay Updated with Us
For more insights, analysis, and inspiring posts, follow us. Stay ahead in the rapidly evolving world of crypto and finance.
