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This week remains vital for the financial industry, with markets expecting tomorrow’s first rate cut by the Federal Reserve since 2020.
The previous interest rate reduction triggered a bull run in the crypto market, and analysts expect the same this cycle.
Source – XAmidst the improving market sentiments, Fantom (FTM), Celestia (TIA), and Sundog (SUNDOG) seem well-positioned to lead the impending rally with explosive surges.
Fantom eyes 45% surge
FTM struggled in Q2 as the cryptocurrency market witnessed massive bearishness. However, the altcoin displays bullish signs after bouncing back from August lows.
Fantom opened the week on a bullish note and this could continue in the upcoming sessions, considering the improving broad market sentiments. Nonetheless, buyer dominance remains essential to regain lost price levels.
Fantom has swayed within a rising triangle over the past few sessions. Meanwhile, the Moving Average Convergence Divergence displays bullishness after the latest rebound.
Enthusiasts should watch out for a possible pullback as the Relative Strength Index nears overbought conditions. However, FTM changes hands above the vital barrier and is about to flip $0.55 from resistance to support.
Fantom gained over 11% in the past 24 hours to a press time value of $0.5646. The 30% uptick in daily trading volume suggests continued uptrends.
Maintaining the current momentum will see the altcoin surpassing $0.6 to explore $0.81. That would translate to a 46% upswing from current prices.
Source – CoinmarketcapCelestia price outlook
TIA saw a significant 80% slide after hitting peaks and failed to steady beyond a descending resistance. However, the recent breakout has seemingly changed the trajectory, with recent ecosystem developments keeping the alt afloat.
Celestia gained 4% in the previous 24 hours to trade at $4.93. The altcoin remained elevated over the past week, gaining nearly 20% on its 7D timeframe.
Source – CoinmarketcapWhile weakening trading volume suggests declines and potential horizontal consolidation, heightened sentiments amid rate cuts could validate TIA’s rebound and lead to a 45% surge from current prices. That would take Celestia’s price above the $7 mark.
The altcoin has consistently tried to overcome the nearest resistance zones after rejections from yearly peaks. The Bollinger bands are squeezing as the price approaches the DMI levels.
The current upswing should continue to validate a bullish crossover. Thus, the upcoming sessions remain crucial for shaping TIA’s rally.
Low-cap Sundog still attractive
SUNDOG caught the attention of crypto investors after last week’s 30% uptick. Meanwhile, price charts suggest continued growth for the lesser-known crypto. Moreover, the alt sees surged whale interest, indicating trust in Sundog’s extended growth.
Whales invested $2.5 million in SUNDOG, driving a 5.01% price rise to $0.3597. Indicators point to continued bullish momentum with key support at $0.33825.
The token changed hands at $0.3227 after dropping from a weekly high of $0.38. The current decline comes after the token gained over 500% in the previous month.
SUNDOG will leverage the booming meme coin market on the Tron blockchain for extended recoveries in the upcoming rally.
Wednesday remains a pivotal day for cryptocurrencies, with the highly anticipated rate cuts expected to drive risk assets higher. Nonetheless, crypto expert Lark Davis predicts near-term volatility before robust bullish actions.
A 25bps rate cut is BULLISH A 50bps rate cut is also BULLISH Yes, there could be some volatility in the short-term But in the long term, it’s all mega bullish.
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