The crypto market is buzzing ahead of the Federal Open Market Committee (FOMC) meeting on October 28–29, as traders brace for signals of possible rate cuts after a cooler-than-expected US CPI report. The market is already up close to 4% with Bitcoin and Ethereum looking good.
With inflation easing and liquidity hopes rising, attention has turned to these three altcoins to watch ahead of the FOMC meeting. If the Fed strikes a dovish tone, these tokens could move fast.
Chainlink (LINK)
The first altcoin to watch ahead of the FOMC meeting is Chainlink (LINK), a chart that reflects both caution and potential. While LINK trades inside a falling wedge, which usually signals a bullish reversal, a hidden bearish divergence has emerged between October 13 and 27.
The price has made a lower high, but the Relative Strength Index (RSI), which tracks buying and selling pressure, has made a higher high. This often hints that the broader downtrend could continue. Over the past month, LINK is down 10.2%, though it’s up 6.8% in the past week.
The $17.08 level remains a strong support; a clean daily close below it could trigger a 9% drop toward $15.
LINK Price Analysis: TradingView
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Still, the story isn’t fully bearish. The Money Flow Index (MFI), which measures money entering and leaving the asset, shows higher highs since mid-October, meaning dip buying continues.
Meanwhile, the Chaikin Money Flow (CMF), a measure of whale accumulation, has just moved above zero, hinting that big holders are starting to buy LINK again.
LINK Metrics Hinting At Bullishness: TradingView
Together, these mixed signals show Chainlink is in limbo, bearish pressure fading, retail buying rising, and whale inflows improving.
The FOMC’s tone could decide which side takes control, making LINK one of the top coins to watch this week. More so if the Fed cuts rates as expected.
Dogecoin (DOGE)
The second altcoin to watch ahead of the FOMC meeting is Dogecoin (DOGE). It is a token sitting right at the edge of a possible breakout. The Dogecoin price has been trading sideways since October 11, oscillating between $0.17 and $0.20, as traders wait for a trigger.
The key level to watch now is $0.21. A clean move above it could spark a 6% rise toward $0.27, especially if risk appetite improves following a possible Fed rate cut.
DOGE Price Analysis: TradingView
The Wyckoff volume profile, which tracks the balance between buying and selling, shows a recent shift in control. Between October 23 and 25, the chart flipped from yellow (seller control) to blue (buyer control), hinting that bulls briefly gained momentum.
But buying strength has dipped again, a sign of indecision, common in range-bound setups like Dogecoin’s.
Adding to the intrigue, Dogecoin whales are quietly accumulating. Holders with balances between 100 million and 1 billion DOGE increased their supply from 28.87 billion to 29.04 billion DOGE in the last 48 hours.
That’s about $34 million worth of tokens, showing early whale positioning before the FOMC meeting.
Dogecoin Whales In Action: TradingView
The combination of renewed whale activity, neutral retail behavior, and a tight trading range makes Dogecoin one of the top coins to watch as markets brace for the Fed’s next move.
Zcash (ZEC)
The final altcoin to watch ahead of the FOMC meeting is Zcash (ZEC). A privacy coin that’s been on a spectacular run. Over the past month, the ZEC price has been up more than 540%, breaking out of a bullish flag (and pole) pattern and moving steadily toward its next key target of $441, which we projected earlier.
The move has already cleared strong resistance levels at $314 and $344, confirming solid momentum despite a few technical warning signs.
Between October 11 and October 27, the Relative Strength Index (RSI) and the Chaikin Money Flow (CMF) on the daily chart formed bearish divergences.
ZEC Price Analysis: TradingView
While the price made higher highs, both RSI and CMF made lower highs. That signals that buying strength is fading even as the ZEC prices climb.
This setup hints that Zcash may face a mild pullback of around 10%–12%. That way, the ZEC price could possibly retest $314 or even $284 before resuming its climb.
The zone near $247 remains a deeper support, while a drop below $187 would invalidate the bullish structure.
