These 3 Cryptos Look Poised to Explode Higher as Bitcoin Correction Fades

investing.com:

Over the past couple of weeks, economic data, especially inflation, have dampened risk appetite and led to a sharp correction in cryptos.

However, yesterday's statements from the Fed seem to have brought an end to that bearish trend and reinvigorated the bulls.

The Fed's indication that it is committed to addressing inflation but projections suggest up to three cuts this year, helping alleviate concerns and prompting a shift in crypto market sentiment.

Despite recent setbacks, the underlying bullish dynamics of the crypto market remain intact. Bitcoin's halving pricing mechanism persists, and demand for spot Bitcoin ETFs remains strong, suggesting that the recent downturn may be temporary.

Today, we'll assess the potential direction of Ethereum, by examining key levels for Avalanche, which has held steady amid the recent pullback.

Additionally, we'll identify significant levels for FLOKI/USD, which underwent a notable surge yesterday.

Ethereum fell to $3,150 last week with increasing selling pressure in the average range of $3,975 — $4,100, which we follow as a long-term resistance level.

Yesterday saw a quick turnaround, while Ethereum recovered all of the previous day's losses and regained the support area in the $ 3,300 region.

In the current situation, we see that the short-term EMA levels around $ 3,560 are the first resistance point in Ethereum today. If the day's close comes in the $ 3,600 region, we can see that the next resistance area may form at $ 3,860.

If Ethereum surpasses the resistance around $3,800, it may gain momentum and quickly climb toward the $4,300 — $4,600 range. This zone could also act as a barrier if there's a surge toward the all-time high, with the crypto hovering just below that record