As of this writing, Bitcoin’s price is holding steady above the $95,000 mark, presenting a tense scenario for the Federal Reserve due to recent U.S. employment data showing signs of weakening. The Fed is not expected to cut rates in its upcoming meeting. However, if Friday’s data also comes out unfavorable, there may be strong indications by June about reverting to the rate reduction trajectory to ease the risk markets. What are the latest forecasts for AVAX, SHIB, and Solana $176?
Avalanche (AVAX)
AVAX has been hovering around the $22.2 region since its recent upswing, though it has not been able to turn this region into support despite multiple attempts. This level has consequently weakened. Should the overall market sentiment provide support, we might witness a robust recovery toward $27 with a breakout to the upside.
The key point for consistent growth and notable peaks is the reclaiming of $33 as a support. With Bitcoin $110,917 closing above $95,000 daily, altcoins including AVAX might have more room for upward momentum. Moreover, dovish statements post-Fed meeting could also provide the support that the markets, so far devoid of expectations from the Fed meeting, have been searching for.
According to the U.S. Treasury Secretary, we could see the first tariff agreement by next week at the latest. This backdrop could set the stage for a growth narrative when combined with the Fed meeting outcomes.
Shiba Coin and Solana (SOL)
Approximately 21 days ago, SOL Coin surged by around 50% from its previous low. Like XRP Coin, SOL Coin has shown rapid reversals when compared to other cryptocurrencies. This is backed by powerful network activity, TVL, and ETF approval expectations due to being U.S.-based. A greater peak is anticipated this year, but in the short term, an attempt is expected in the $167 region following closes above $150.
Despite ongoing tariff concerns, SOL Coin previously bounced swiftly to the $180 mark due to its crypto reserve. However, it subsequently slid back to $147, a key support level.
Shiba Coin remains around $0.0000136. Although the second attempt at $0.0000153 also failed, it hasn’t diverged greatly from this point. What is different from the previous attempt is the potential for break-out to new peaks in the $0.0000173 to $0.0000206 range if previously mentioned conditions are met and resistance is overcome.