Inflation measures in the U.S. have recently risen significantly, with the Consumer Price Index (CPI) up 3.2% over the past year as of July. The Federal Reserve is strategizing how best to address current inflation without tipping the economy into recession.

This month’s CPI data will certainly be a topic of conversation during the Federal Open Market Committee’s upcoming September meeting. In response to rising prices, the U.S. central bank has raised interest rates to discourage borrowing. This adjustment will affect both the cryptocurrency and stock industries.

When interest rates climb, investors typically turn their attention to U.S. Treasury bonds and cash reserves, which tend to offer higher yields in this case. The Fed began its fight against inflation 18 months ago, raising interest rates from near zero. The agency's goal is 2% inflation, and Chairman Powell hopes to achieve that goal by 2025 (or even earlier).

Considering the Fed's recent decisions, it raised interest rates by 25 basis points last month, bringing the benchmark rate to its highest level in more than two decades. Chairman Powell stressed that subsequent interest rate decisions will be evaluated based on individual circumstances. Excluding volatile components such as food and energy, core inflation increased at an annual rate of 4.7% as of July, slightly lower than 4.8% in June.

This core CPI is highly valued by the Fed as it gives a clearer picture of the inflation trajectory. Another key indicator reviewed by the Fed is the personal consumption index, which is due for release on August 31. As for the upcoming September meeting, there is an 88.5% chance that interest rates will remain unchanged. With this in mind, what are the best cryptocurrencies to buy right now?

APT

Aptos (APT) experienced a strong rise of 10.52% yesterday as it rebounded from the $6.6082 horizontal support area to $6.7296. Looking at the exponential moving averages (EMA), APT is currently sandwiched between the 20-day EMA at $7.0273 and the 50-day EMA at $7.2632.

The recent failure to hold the intraday high above the triple confluence resistance of the Fib 0.618 level ($7.8860), the 100-day moving average ($7.8597), and the horizontal resistance zone ($7.3332 to $7.9687) indicates a critical resistance point for APT. The RSI is 53.44, down from 59.17 yesterday. The decline in the RSI could signal a loss of momentum, which is confirmed by the modest rise in the MACD histogram to 0.0360 from 0.0154 yesterday.

Although the uptrend remains intact, these indicators suggest a possible slowdown or consolidation phase.

Volume and market cap dynamics further hint at an uncertain road ahead. Market cap fell 1.33% to $1.59 billion, and 24-hour volume dropped a massive 39.43% to $373 million, which could be a shocking sign for bulls.

APT is currently priced at $7.2063, having fallen 2.74% so far, and is testing traders’ nerves. Immediate resistance is located at the 50-day SMA at $7.2632 and further at the Fibonacci 0.5 level at $7.4118. Traders should keep an eye on these levels; a close below the 50-day SMA today could indicate short-term bearish sentiment. On the other hand, immediate support at the 20-day SMA at $7.0273 and the Fibonacci 0.382 level at $6.9375 provides some comfort to the bulls.

If the price holds above these levels, it could set the stage for another attempt to break above the overhead resistance.

Aptos (APT) is at a critical juncture. Both the bullish and bearish scenarios have arguments based on technical indicators.

Traders should remain vigilant, consider tightening stops, and look for confirmation through price action at current resistance and support levels. A breakout or below these key indicators could provide the directional hints needed for the next major move.

RPL

Rocket Pool (RPL) has shown signs of a potential recovery after posting a massive 9.23% surge yesterday.

RPL found support at the swing low of $24.46 and bounced back to $27.58 and is currently trading higher at $28.19, up 2.21% so far today.

This upward price action suggests that RPL is attempting to break above the Fibonacci 0.236 resistance level at $28.09.

Major technical indicators show a mixed picture but slightly tilted towards a bullish scenario.

The 20-day MA is $29.23, the 50-day MA is $33.22, and the 100-day MA is $37.13. The fact that the current price is below these averages could indicate that RPL is still in an overall bearish trend.

Meanwhile, the RSI has risen to 40.47 from 37.12 yesterday. The rising RSI indicates a strengthening of bullish momentum.

Values ​​below 30 are generally considered oversold, while those above 70 are considered overbought. The RPL is at 40.47, close to the oversold territory, indicating potential upward pressure.

The MACD shows a positive histogram value of 0.16, up from yesterday’s 0.04, indicating buying pressure and a potential bullish crossover. The increase in market capitalization and 24-hour trading volume reinforces this bullish scenario.

RPL’s market capitalization rose 6.07% to $553 million, and its 24-hour trading volume soared 86.31% to $17.4 million.

Increases in volume often precede price changes, suggesting further price increases.

Despite these bullish signals, traders should also be aware of the current resistance and support levels. The immediate resistance for RPL is the 20-day EMA at $29.23, followed by the Fibonacci 0.382 level at $30.33.

On the other hand, the immediate support is the Fib 0.236 level ($28.09), which RPL is currently attempting to surpass. Although the EMAs indicate a bearish trend, the rising RSI, positive MACD histogram, and increasing volume suggest a potential bullish reversal. Traders should closely monitor these indicators and react accordingly, keeping in mind the current resistance and support levels.

MSEK

Maker (MKR)’s technical indicators suggest that the bullish trend may continue. After a seven-day correction, the cryptocurrency is now seeing its first significant up move and is trading at $1,253, up 3.38% year to date. The current price has not yet surpassed the 20-day moving average at $1,192, suggesting that short-term positive sentiment continues.

Meanwhile, the 50-day and 100-day exponential moving averages (EMAs) are significantly lower at $1,048 and $920, respectively, indicating a long-term bullish trend. The RSI is at 61.85, up from 58.01 yesterday. The indicator measures the speed and change of price movements, and readings above 50 are generally interpreted as bullish signs.

However, as MKR approaches the 70 level, the asset could be considered overbought, which could spark a period of selling pressure. Traders should closely monitor the indicator for any further downside moves that could signal a short-term price reversal.

Looking at potential obstacles, MKR faces a horizontal resistance zone between $1,371 and $1,393, a level not seen since May 2022. This could be the next big test for the bullish trend. If the price can break above this resistance on heavy volume, it could pave the way for further gains.

On the downside, there is a triple confluence of the Fibonacci 0.786 level at $1,188, the 20-day EMA at $1,192, and the horizontal support zone of $1,153 to $1,187. This strong support area is likely to prevent a sharp decline in prices in the near term. MKR’s current technical indicators suggest that the bullish trend may continue, but traders should remain vigilant about key resistance and support levels.

Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.