Altcoins Bounce Ahead of FOMC: Key XRP, HYPE and ENA Levels to Watch
Altcoins are bouncing today as traders wait for the Federal Reserve. The FOMC rate decision lands at 2 PM ET. Chair Kevin Warsh speaks at 2:30 PM ET, and many traders see that press conference as the bigger event.
Crypto analyst Ali Charts shared three setups in an October 28 post on X. He picked XRP, HYPE, and ENA. His notes put support levels and breakout confirmation at the center.
Altcoins rise as traders await Fed decision
Traders are getting into position before the rate call. The Fed decision is the big event for crypto today.
The main tests are simple. XRP and HYPE need to keep their support levels intact. ENA still needs to break resistance. How altcoins react could depend on what Warsh says.
CME data shows 90.6% chance Fed holds rates
The current target rate is 3.75% to 4.00%. CME data shows a 90.6% chance the Fed holds. A hike has a 9.4% chance. A cut sits at 0.0%.
Outcome | Now | 1 Day Ago (26 Oct) | 1 Week Ago (21 Oct) | 1 Month Ago (28 Sep) |
Hold (3.75% to 4.00%) | 90.6% | 88.9% | 84.5% | 29.1% |
Hike (4.00% to 4.25%) | 9.4% | 11.1% | 15.5% | 70.9% |
The mood changed fast. One month ago, a hike was the bigger bet.
Hold odds jumped from 29.1% to 90.6% in a month. Most of the surprise may already be in prices.
XRP rebounds, but $1.25 support remains key
XRP is rebounding, but $1.25 is the key level. On the daily chart, XRP seems to be forming an inverse head-and-shoulders bottom. It's possible the right shoulder sits near that support. The chart shows $XRP at $1.32.
If $1.25 holds, $XRP could move toward the neckline at $1.55. A daily close above it could signal a breakout toward $2.10.
If $1.25 breaks instead, $0.98 comes into focus.
XRP flashes TD Sequential buy signal on 3-day chart
The TD Sequential flashed a buy signal on the XRP 3-day chart. The last three similar signals led to rebounds of 31%, 24% and 18%. The chart also marks a 71.88% jump from the August low.
That makes the new signal worth watching. Still, past results do not promise a repeat.
Everything depends on $1.25 again. Hold it, and XRP could rebound toward $1.40.
Lose it while whales keep taking profits, and $0.98 could be next.
Hyperliquid bounces from $74 near rising trendline
Hyperliquid bounced from roughly $74. That level sits near a rising trendline the token has followed since late January. The chart shows HYPE at $81.26.
Earlier touches of that line were followed by rallies of 87% in late January and 72% in early August.
If $74 holds again, HYPE could rise toward $110. A break below it would shift the focus to $67, then $60.
Ethena tests upper edge of descending channel
Ethena has risen roughly 18% in the past few days. It trades near $0.210 and is testing the upper edge of a descending channel on the 4-hour chart.
A 4-hour close above $0.22 could signal a breakout toward $0.24 or even $0.27.
If ENA fails to clear that resistance, it could pull back toward the channel's mid-range near $0.18. The lower line of the channel sits near $0.15.
Key levels for XRP, HYPE and ENA at a glance
Coin | Chart Price | Key Level | Upside Targets | Downside Targets |
XRP | $1.32 | $1.25 support | $1.40, $1.55, $2.10 | $0.98 |
HYPE | $81.26 | $74 support | $110 | $67, $60 |
ENA | $0.210 | $0.22 resistance | $0.24, $0.27 | $0.18 |
Fed decision could set next move for altcoins
Nobody knows yet. A hold is the base case, but the press conference could still shift the tone.
Strong support could keep these altcoins bouncing. A sharp reaction could break levels fast. Traders may want to watch the $1.25, $74, and $0.22 lines closely.
Disclaimer
This article is for information only and is not financial, investment, or trading advice. Crypto assets are volatile and can lose value quickly. Price levels and targets mentioned come from an analyst's chart views and are not guaranteed. Do your own research and speak with a licensed financial advisor before making any decision. Never invest money you cannot afford to lose.
