Welcome back,
In 24 hours from now, the FOMC meeting will be held and we are going to see rate cuts happening. I am speculating that the rate cut will be of 25 BPS, but only tomorrow we will learn what the reality is once the meeting goes live.
The market is still trading at a lower price point compared to where it was a few days back, and that is why there is an opportunity in the market right now. Almost 99% of the big players are expecting rate cuts to happen, so the sentiment is quite positive already.
So, after analyzing all my tokens from the testing portfolio, there were two tokens that I was confused about investing in. The first token was PHALA and the second token was ENA. Both of these tokens are quite strong and are already part of my portfolio in short as well as long term. But today, the winner for me is ENA because I have seen it on the 4-hour timeframe as well as the 1-day timeframe, and I think it is the better option for now.
Even if you buy PHA, it is not a bad option. It still has the probability of pumping 25–35% from where it is trading right now. So both of these tokens are really good if you want to buy them. But if I have to pick one, I am going to go with ENA for my personal reasons based on the technical analysis I did.
Do let me know what are your thoughts about the market right now, because I know if something good is about to happen, the market should go up. But we are seeing the opposite happening right now. Don’t panic, don’t start selling your tokens, because the real move will come very soon after the FOMC meeting is completed and the rate cuts are announced.
If you are someone who is scared of losing money and you think that the current market situation is where you might end up losing money, then simply hold on to your bag, don’t sell anything, don’t buy anything, and wait for the alt season to arrive.
I don’t know if that will actually come for all of us, but let’s hope for the best. Once the Fed starts cutting rates, then probably the money printing will also start, and if that happens, then the financial market will show a boom, and finally, even our alts will come with some nice gains.
Thank you and happy trading everyone.
