Wednesday’s FOMC brought good news to the crypto market, despite the expected no rate cuts.
Several large-caps facing key S/R levels saw bullish bounces and are now back in experts’ list of best cryptos to buy, including Bitcoin which is now looking to flip the $105,000 resistance.
In fact, Fed Chair Jerome Powell claimed the central bank isn’t against Bitcoin or crypto innovation, stating that banks can freely serve crypto customers as long as they manage risks.
BREAKING: 🇺🇸 Fed Chair Jerome Powell: “Banks can freely serve crypto customers.” With President Trump, a new Bitcoin era is unfolding. You’re not bullish enough. pic.twitter.com/97uR9MbNj0
— Michael Saylor ⚡ Founder of MicroStrategy (Parody) (@Saylorsatsire) January 29, 2025
5 Coins That Benefitted From Wednesday’s FOMC
Wednesday’s FOMC—in particular, Jerome Powell’s post-meeting comments—have given a significant boost to the crypto market. We list the 5 coins that benefitted the most.
Bitcoin (BTC)
For instance, the US Dollar Index (DXY) saw a significant decline following Powell’s press conference. After initially surging to 108.16, DXY is now down to 107.79.
As a result, the Bitcoin price is now above the $105,000 resistance at press time and is aiming to secure a daily and monthly close above it.
Bitcoin should be back on investors’ list of best crypto to buy, particularly if it secures a monthly close above $105k. Legendary trader Bluntz suggests BTC has completed its A-B-C corrective wave and is now set for a bull rally to $128,000.
$btc looking like that last pullback was an abc and this leg is about to extend once again.should look something like this when all’s said and done imo. pic.twitter.com/NTa6KfNc3K
— Bluntz (@Bluntz_Capital) January 30, 2025
Ethereum (ETH)
Surprisingly, Ethereum (ETH) is also showcasing significant bullish strength post-FOMC.
The largest altcoin is back above its 99-day Smoothed Moving Average for the first time since November 2024 as well as its 50-week Simple Moving Average.
Meanwhile, a falling wedge pattern and bullish divergence on the daily chart suggest the possibility of a rally to $4000.
Experts also highlight the formation of a “Power of 3” setup, which could pave the way for a rally to $4,800.
It is time. $ETH pic.twitter.com/ftmmneXHlt
— Poseidon (@CryptoPoseidonn) January 29, 2025
Dogecoin (DOGE)
The Dogecoin price is up by 4% on Thursday and nearly 6.5% from Wednesday’s lows.
Popular analyst Ali Martinez highlights DOGE appears to have broken out of a symmetrical triangle in its hourly timeframe, which could pave the way for a surge to $0.36.
#Dogecoin $DOGE appears to have broken out of a symmetrical triangle, targeting $0.36! pic.twitter.com/Inx2spKBa7
— Ali (@ali_charts) January 30, 2025
Dogecoin remains one of the consensus picks among experts for the best cryptos to buy, many of whom still believe the top meme coin will hit $1.
Pepe (PEPE)
Pepe typically shows a strong correlation with ETH. With Ethereum now showing bullish strength, Pepe is also gearing up for a major breakout.
The formation of higher lows in its lower timeframe has resulted in the frog meme coin surging by 7% on Thursday.
Prominent analyst Unknown Trader has opened a long position on Pepe, expecting it to potentially recover to $0.000016.
#PEPE $PEPE LONG TRADEENTRY: 0.00001277 – 0.00001245TARGETS: 0.0000138 – 0.0000165STOPLOSS: 0.000012045 pic.twitter.com/aNQWKIBaGz
— UNKNOWN TRADER (@Learnernoearner) January 30, 2025
Low Market Cap Meme Coins
Jerome Powell’s dovish FOMC is beneficial for low-cap crypto assets.
Just today, a new meme coin $JELLYJELLY went from $100k to $100 million market cap in just 60 minutes.
https://x.com/morpheuswhale/status/1884761308626591797
Smart money investors are also eyeing outsized returns from Solaxy (SOLX), a meme coin which has raised over $16 million in its ICO.
Despite its meme coin status, Solaxy is a high-utility project and could be a game-changer in the Solana ecosystem. In fact, it is the first prominent Solana layer-2 project which aims to use roll-up architecture to improve SOL’s network congestion, downtime and scalability issues.
Considering its lofty goals, it is no surprise experts believe SOLX is highly undervalued during its presale and are eyeing up to 100x gains from it.
Visit Solaxy Presale
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