The cryptocurrency market has demonstrated a robust recovery following the Federal Reserve’s decision to cut interest rates, with select altcoins spearheading the rally. Bitcoin (BTC) has reclaimed key support levels, currently trading above $67,000, though technical indicators suggest consolidation may persist in the near term. Analysts note that while momentum is building, BTC must breach the $70,000 resistance to confirm a sustained bullish trend.
Cardano (ADA) exhibits a mixed technical outlook, with its price action showing resilience above the $0.45 support zone. Trading volume has increased by 18% over the past 24 hours, yet the asset faces overhead resistance near $0.50. On-chain data indicates growing network activity, which could provide fundamental support for further gains.
NEAR Protocol (NEAR) has outperformed many major cryptocurrencies, surging over 12% amid positive ecosystem developments. The token has broken through critical moving averages, signaling potential upward momentum. However, traders are monitoring the $7.50 level closely, as a rejection could trigger short-term profit-taking.
Market sentiment has improved significantly post-announcement, with the global cryptocurrency capitalization climbing 5.2% to $2.5 trillion. While the Fed’s dovish pivot has injected optimism, analysts caution that macroeconomic uncertainties remain. Traders are advised to watch for volume confirmations and key technical levels before establishing new positions.
