The cryptocurrency market is on edge as the December FOMC Meeting approaches, expected to bring a potential 25-basis-point interest rate cut. Scheduled for December 10, this event could have significant implications for the crypto market. Lower interest rates generally lead to increased investments in riskier assets like cryptocurrencies. Here are three altcoins to monitor as they could ride the wave of anticipated changes.
1. FARTCOIN: A Rising Star
FARTCOIN has shown remarkable momentum this week, climbing 32% in just seven days. Currently trading at $0.404, it continues to demonstrate resilience amid bearish market conditions. Technical indicators, such as the Relative Strength Index (RSI), suggest a strong bullish sentiment, offering an opportunity for further growth.
A key resistance level to watch is $0.417. If this barrier is broken, FARTCOIN could advance toward $0.470, provided buyer enthusiasm sustains and market conditions remain favorable. However, caution is advised, as any wavering sentiment might push the price down to $0.358 or lower, invalidating the upward trend.
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2. Bitcoin Cash (BCH): Tied to Bitcoin’s Success
As a Bitcoin spinoff, Bitcoin Cash often mirrors Bitcoin’s market movements. Over the past week, BCH has risen by nearly 11%, positioning itself as a noteworthy contender ahead of the FOMC meeting. Its upward trajectory is supported by the Parabolic SAR indicator, which confirms a steady bullish trend.
Breaking the $593 support level is crucial for BCH to continue its push toward $624. However, if investors start taking profits, BCH could face a downturn, potentially falling to $555 or lower.
3. Double Zero (2Z): A Strong Contender
Double Zero (2Z) has seen a 21% surge, propelling it into the top 100 crypto assets. Trading at $0.1382, it hovers just below the $0.1433 resistance level. Market momentum appears to favor this altcoin, supported by a strengthening MACD indicator.
A successful break above $0.1433 could enable 2Z to target $0.1581. However, if uncertainty prevails or investors start offloading their positions, the price could decline to $0.1296 or even further down to $0.1199.
Conclusion
The December FOMC meeting is a pivotal moment for markets, with its potential to reshape the cryptocurrency landscape. Altcoins like FARTCOIN, Bitcoin Cash, and Double Zero are poised to benefit from favorable market conditions should the Federal Reserve deliver a rate cut. However, volatility remains a key factor, emphasizing the importance of cautious market strategies.
For a more in-depth analysis and regular market updates, consider subscribing to reliable crypto newsletters such as BeInCrypto.
