Manta Price Analysis: FED Rate Cut Allows Rise

US Federal Reserve (#Fed ) Chairman Jerome #powell stated that the US economy is generally strong and decided to cut interest rates by 50 basis points.

The Fed said that there will probably be two more 25 basis point rate cuts this year. Economist Alex Krüger says the US economy is healthy despite Peter Schiff's recession warning.

The decrease in interest rates can have positive effects for altcoins:

👉Lower Borrowing Costs: The decrease in interest rates encourages investors to borrow more and turn to risky assets.

👉Increase in Liquidity: More liquidity can direct investors to higher-risk assets such as altcoins.

👉Alternative Investment Search: When yields on traditional instruments fall, altcoins become more attractive.

👉Market Confidence: A strong economy can increase investor confidence, increasing demand for altcoins.

Peter Schiff’s recession warning may create uncertainty, but interest rate cuts generally present a positive environment for altcoins.

At this point, the popular altcoin $MANTA has risen by about 10% in response to the Fed decision and the Bitcoin rally.

According to September 2024 data, the overall Manta Network price forecast sentiment is neutral, with 17 technical analysis indicators signaling bullish, while 8 technical analysis indicators signal bearish.

Manta Network’s 200-day SMA will fall in the coming month and reach $1.401785 by October 19, 2024.

#MANTA Network’s short-term 50-day SMA is forecasted to reach $1.16491 by October 19, 2024.

Manta’s support and resistance levels are as follows: Resistances are $0.8873 (R3), $0.82836 (R2), and $0.79199 (R1); pivot point is $0.73305; supports are $0.69668 (S1), $0.63774 (S2), and $0.60137 (S3). If the price stays above the resistance levels, the upward move may continue