Ethereum (ETH) and ThorChain (RUNE) Are Altcoins to Watch Ahead of Fed Rate Decision
- PHPzOriginal
- 2024-09-19 03:48:12339browse
Today is the day we've all been waiting for—September 18th, when the Federal Reserve (FOMC) will announce its decision on interest rates
After a long anticipation, today, September 18th, the Federal Reserve (FOMC) will announce its decision on interest rates. This announcement is set to impact the markets, particularly as we approach the next phase of the crypto bull run.
According to the latest updates, there has been a shift in expectations regarding the rate cut. Initially, there was a 37% chance of a 25-basis point cut; however, now there is a 63% chance of a larger 50-basis point cut. Some politicians are even advocating for an emergency 75-basis point cut, although this seems improbable given the continued rise in the stock market.
Ahead of this significant event, an analyst on Crypto Banter’s Kyle Doops Show highlighted several altcoins that might experience substantial price movements.
Ethereum Levels to Watch
The analyst stated that if Ethereum manages to break above $2,443 in the ETH/USD pair, it would indicate a potential shift in the market structure. The market is forming a possible higher low, suggesting that a bullish move might be on the horizon.
RUNE: Major Developments and Price Movement
The founder of ThorChain (RUNE) recently obtained approval to operate a fully licensed fund with self-custody for RUNE. This development is significant as it enables fund management and node operation in a decentralized manner.
The analyst is observing a potential W-formation in the price chart, which could lead to higher targets around the $6 level. During the next phase of the market cycle, RUNE is widely regarded as one of the top contenders.
Other Altcoins to Watch
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