Best Crypto Buys During Federal Rate Cuts: XRP, Chainlink & POL Set for Massive September Rally
As Federal rate cuts loom, certain cryptocurrencies are drawing significant attention from investors. With anticipation building, remarkable growth potential is seen in specific coins come September. This article delves into the promising prospects of XRP, Chainlink, and POL, identifying them as top picks for those looking to capitalize on the upcoming market surge.
XRP Market Outlook: Past Trends and Present Levels
XRP registered a 5.02% decline over the past month, while the six-month view shows a robust gain of 28.575%. The recent drop contrasts with a strong upward movement over the past six months. This performance highlights fluctuating sentiment, with short-term challenges overshadowed by longer-term gains. Recent trading indicates a modest setback, but the overall six-month rally reflects the coin's ability to recover and build upward momentum.
Current price action is testing levels between $2.23 and $3.74. The nearest support is at $1.43, with resistance at $4.46 and a second resistance at $5.97. Bears have exerted downward pressure as technical indicators show slightly negative momentum. There is no clear trending direction at the moment. Traders might consider entering near support with a tight stop or selling into strength near the first resistance level. Watching for a breakout above $4.46 could lead to testing higher barriers, while a failure may provide short-term sellers an exit opportunity.
Chainlink Climb: Accelerated Growth with Strategic Support and Resistance
Chainlink showed strong upward movement in the past month and six months, with gains of 43.46% and 71.47%, respectively. This price action highlights heightened investor interest and consistent momentum. A weekly increase of 2.25% reflects a cautious but steady pace within the broader upward trend. Over the last half-year, LINK has risen from lower levels, driven by sustained demand, establishing a trading corridor that indicates increased market participation.
Currently, LINK is trading within a defined range, facing immediate support at $9.12 and resistance at $24.18. Longer-term boundaries are set at $1.58 below and $31.71 above. Technical indicators reveal that bulls remain dominant, but caution is needed as the relative strength index stands at 62.81, approaching overbought territory. Watching for a break above $24.18 could signal further bullish momentum, while a drop toward support may present attractive buying opportunities.
POL (ex-MATIC): Price Trends, Key Levels, and Trading Ideas
Over the past month, POL experienced a modest rise of about 5.70%, while the six-month change shows a drop of roughly 9.30%. This reflects mixed recent performance. The weekly price change held steady at 0%, with the coin trading in a range between $0.17 and $0.25. This movement over time marks a period of minor volatility, where short-term gains contrast with a longer-term decline.
At current prices, the coin has support near $0.13 and a more critical level around $0.04, while resistance is first observed at $0.30, with a second level at $0.39. Price action within the $0.17 to $0.25 range highlights caution, with bulls showing some strength as indicated by an RSI of 53.56. The trend is not yet clear, suggesting traders consider buying near support and aiming for profits as price nears resistance levels. Short-term trading ideas focus on maintaining stops just below the $0.13 support and monitoring for a move above $0.30 to signal a potential bullish breakout.
Conclusion
XRP, Chainlink, and POL are poised to benefit from recent federal rate cuts. XRP's adoption in the financial sector continues to grow. Chainlink's role in providing reliable data for smart contracts positions it well for expanded use. POL's unique features make it an attractive option for investors looking to diversify. Overall, these three coins have strong potential for notable gains in September.
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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