Cryptocurrencies are eagerly awaiting Powell’s statements, with the likelihood of interest rates remaining steady. This year, there was a stronger expectation for significant rate cuts compared to last year. However, the potential reversal of declining inflation has led markets to price in two rate cuts. What are the expectations for Shiba Coin, AVAX, ADA, and XRP Coin?
Insights on Shiba and AVAX Coins
Today, Powell is expected to make relatively positive statements to avoid exacerbating the overall market downturn. Developments in artificial intelligence have significantly impacted U.S.-based tech companies. Naturally, this has led to new lows for altcoins, especially under the leadership of BTC.
The rise that started in September saw a 157% increase over 81 days, peaking at $0.0000333 on December 8. However, a 51-day decline followed, erasing 46% of SHIB’s value. Despite attempts at recovery, losing the $0.0000209 support now opens the possibility of testing the new $0.0000166 support level.
AVAX is facing pressure after losing the $35 range, with new attempts around $30.6. Due to insufficient gains and interest, the negativity around this altcoin is growing. In extreme sell-offs, it may test $24.80, but recovery requires reclaiming thresholds of $35, $38, and $42.
Perspectives on ADA and XRP Coins
Today, the Cardano 
$0.960239 team shared details about their new roadmap. They announced efforts towards decentralization, aiming for significant progress on the main network. If we are to witness a genuine rally this year, the ADA team must complete major steps for price increases before the second quarter ends.
ADA Coin must hold the $1.02 support for an upward trend; otherwise, the next support point is $0.846. Below that, extreme selling could see it drop to $0.70. Its decline needs to stop for a potential recovery.
Gensler left his position nine days ago and has returned to MIT. The new SEC leadership is very crypto-friendly and has begun taking swift actions regarding cryptocurrencies. However, due to the overall market negativity, XRP Coin struggles to maintain a position above $3.2. As much of the SEC’s influence is priced in, XRP Coin seems to need a broader market sentiment recovery.
