Today, the Federal Reserve is poised to reveal its latest interest rate decision, potentially cutting by 25 basis points. Cryptocurrency traders are eager to understand its market implications.
AVAX and Ethereum Price Projections
Ethereum (ETH) has shown potential for significant growth after surpassing the $4,100 resistance level. Although a recent dip occurred, market sentiment remains optimistic, as previous patterns indicate that upward movements often lead to temporary pullbacks. Two years ago, concerns revolved around ETH potentially falling below $800, but the current discourse centers around maintaining the $4,100 threshold for further growth.
Can Litecoin Maintain Its Current Range?
Litecoin (LTC) has been trading between $116 and $130, presenting opportunities for traders operating on short-term fluctuations. If LTC falls below the $116 support level, it may retest support closer to $105-$100. A more severe decline could see prices drop to around $82, yet the cryptocurrency’s performance after the U.S. elections suggests a possibility of reaching above $200 in the future.
Impact of the Fed's Decision on the Crypto Market
The Federal Reserve’s rate cut could influence crypto volatility. ETH’s resilience at $3,800 may set the stage for future gains. AVAX is testing lower support levels amid uncertain trends. LTC trading range indicates potential for short-term gains.
As the Fed’s decision unfolds, the impact on the crypto market will be closely monitored, particularly for AVAX, ETH, and LTC. Traders are advised to remain vigilant, as the market could react dynamically to the new developments.
