The Federal Reserve is set to announce its new interest rate decision today, with a 25 basis point cut expected. Cryptocurrency traders are particularly excited as they await the messages that will be conveyed. With inflation stabilizing, the Fed may pause interest rate cuts in upcoming meetings. This leads to speculation about the price forecasts for AVAX, ETH, and LTC.
AVAX and Ethereum (ETH) Insights
ETH price has signaled the potential to sail to new heights after surpassing the $4,100 resistance. Despite the recent decline, investors remain optimistic as such upward trends often follow a similar pattern. The price tends to rise two steps forward, only to pull back one step. While discussions two years ago centered around whether ETH would drop below $800, today, we find ourselves discussing resistance at $4,100.
The ETH price has tested the resistance level again after ten days, and as long as it holds the $3,800 threshold, we may witness further tests. The key point is that each new test weakens the resistance, potentially initiating a new movement targeting $6,000 with a breakthrough above $4,100.
Should the $3,800 level be lost, a new attempt around $3,518 could occur. The ETHBTC pair has lost the $0.0369 support, necessitating a rise against BTC from this point.
Avalanche (AVAX) has dropped to $46.4, with several attempts failing to surpass $54. If the decline persists, we may observe pullbacks at $43.9 and $40.2. The path BTC takes in the coming days will determine if we see new resistance testing or retreats to support regions.
Litecoin (LTC) Insights
For those looking to trade in short-term fluctuations, LTC has provided a favorable environment recently. The price has been fluctuating between $116 and $130, indicating it must break free from this range. If the $116 support is lost, we could see a retest of support around $105-$100.
A deeper correction could extend down to $82; however, following a 126% increase after the U.S. election results, the gains haven’t been overly exaggerated. Compared to previous altcoin rallies like XRP and ADA, this could suggest LTC may also see prices above $200. Last year, we witnessed price levels in the $113 range.
