Big day hits the crypto space as July FED rates are all set to shake up the markets. Over the past two months, the FOMC meeting the timings have induced high volatility in the crypto space. Mainly because US inflation rates hit a 42-year high and are expected to rise another 75 basis points.
Moreover, the earnings of the big tech giant will also be released soon. This could fuel the trend induced by the FOMC meeting this weekend.
Therefore, while many analysts are predicting that Bitcoin could find new lows, some of the altcoins are expected to surge.
Polygon Price (MATIC)
Polygon The price is trying to make a positive move ahead of the FOMC meeting as a nice curve well above the lower support of the ascending channel is seen. Amid the previous day’s price decline, the asset was expected to fall below $0.7.
However, as updated inflation rates are expected to rise, the crypto space, including the MATIC price, is bound to act accordingly.
With significant volatility just around the corner, the MATIC price is likely to climb above $0.86 and, in an extended bullish case, could also break above $0.9. However, a pullback is also expected, but the bulls seem to be ready and lift the MATIC price close to $1.
Cardano Price (ADA)
Cardan The price was on course to test the lower support below $0.45 after being rejected from $0.5. However, the upcoming event seems to have induced noticeable bullish momentum and as a result, the buying volume increased by a decent margin.
Therefore, the next 24-48 hours could be quite crucial for the price of ADA, as the asset has a golden opportunity to break the bearish pattern and surge higher.
As the chart shows, the asset is very close to the top of the descending triangle and therefore the price has been pre-determined to reach the lower support. With the volatility ahead, the asset should regain the lost level above $0.5 initially. However, if the asset holds above these levels, a significant jump targeting $1 may be imminent.