Crypto Market Awaits CPI Verdict as Rate Cut Bets Fall: Top 3 Coins to Buy for the Next Rally
As the crypto community eagerly anticipates the latest consumer price index findings, speculation on rate cuts is dwindling. This economic backdrop creates buzz around key digital assets poised for the next surge. Discover which three coins are positioned for a breakout in the upcoming rally.
Jupiter (JUP) Price Analysis: Past Decline and Key Levels
Jupiter has shown moderate weakness in the past month, reflecting a decline of around 5.58%. The six-month period highlights a more significant drop of approximately 58.55%, indicating a substantial correction from previous highs. Recent data reveals that Jupiter traded within a range from $0.3986 to $0.6539 while testing support close to $0.2726. This prolonged downturn suggests strong selling pressure, leading to a prevailing bearish sentiment in the market.
The current price action hovers around critical levels that attract the attention of traders. Jupiter faces resistance near $0.7832, with a more formidable barrier at $1.03, while solid support can be found around $0.2726 and a deeper safety net at $0.0173. Technical indicators like an RSI of 38.95 show that bears have the upper hand. A negative Awesome Oscillator further emphasizes bearish momentum. Traders may consider setting limits close to support, waiting for a clear reversal before looking for a movement beyond resistance.
Uptrend Hopes Amid Recent Lows for Stacks (STX)
STX experienced a steady slide over the past month and deep challenges over the last six months. The price declined by approximately 34% in one month and nearly 71% over six months, reflecting significant downward pressure. A one-week drop of 12% added to the overall negative sentiment, showcasing an environment of substantial weakness. These figures highlight a market struggling to regain momentum during a volatile period with minimal signs of recovery.
The current price action is in a range between $0.61 and $0.97, with key levels to monitor. Immediate support is near $0.47, while resistance is at $1.21. Additional support and resistance are marked at $0.10 and $1.58 respectively. Technical indicators show mixed signals, with the Relative Strength Index at 34 indicating possible overselling. Bears currently dominate the market, although oscillators suggest a potential opportunity if prices hold at lower levels and bounce from support. Trading ideas involve watching for a break above $1.21 or maintaining support above $0.47, with a cautious strategy in place until a clear trend emerges.
Celestia Price Action: Past Decline and Current Trading Window
Celestia experienced a sharp decline over the past months, with a one-month drop of 26.19% and a six-month decline of 69.57%. A weekly loss of 7.78% indicates ongoing downward pressure. The price range has fluctuated between $1.70 and $3.05 during this period, reflecting significant sell-offs and weak buying interest in response to persistent bearish signals.
Celestia currently trades between approximately $1.70 and $3.05. Nearest support is at $1.20, while resistance sits near $3.91, creating a clear trading window. Weak momentum is evident with an Awesome Oscillator at -0.52 and a Momentum Indicator at -0.48, indicating bear control. The relative strength index of 35.46 shows the coin is oversold, highlighting risks for upward moves. Price action is range-bound without a clear trend, and trading ideas suggest entries near $1.20 aiming for rebounds to around $3.05, with caution for potential short positions if support is breached.
Conclusion
The crypto market's next big move hinges on the CPI results, which could impact rate cut expectations. JUP, STX, and TIA stand out as strong picks for potential gains in the coming rally. These coins offer promising prospects due to their unique features and market positions. As the situation evolves, these three cryptocurrencies are worth watching closely.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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