Altcoin season has kicked off, and despite the latest wave of bearish momentum, some tokens, including Fartcoin (FARTCOIN) and Virtuals Protocol (VIRTUAL), have managed to defy the market’s gravity.

In the past 24 hours, FARTCOIN has jumped by nearly 7% while VIRTUAL has booked a 5% gain. Trading volumes have exceeded the average for these two tokens, currently accounting for 25% and 14% of their circulating market cap, respectively.

This indicates that buying pressure is strong, possibly indicating that a local bottom has formed for altcoins and meme coins.

The macro backdrop supports a bullish outlook for cryptocurrencies as the head of the Federal Reserve, Jerome Powell, confirmed that the U.S. central bank could be ready to cut rates for the first time this year.

Analysts surveyed by FedWatch expect that the first cut will be implemented during this month’s FOMC meeting. Lower interest rates increase the market’s liquidity and appetite for risk. This sets the stage for the resumption of altcoin season at a point when Ethereum (ETH) and Solana (SOL) are trading above $4,000 and $200, respectively.

Fartcoin Bounces Off $0.70 But Needs to Break Above This Key Resistance to Keep Rallying

The 4-hour chart for FARTCOIN shows that the token has broken below a key support at $0.85 in the past few days and is also on a clear downtrend.

The token has found support temporarily at the $0.70 level, and trading volumes indicate that buying pressure at this level was quite strong.

The Relative Strength Index (RSI) shows that bullish momentum is picking up its pace as the oscillator has moved above the 14-period moving average in this lower time frame.

If FARTCOIN breaks above its long-dated trend line resistance and rises past the $0.85 level again, this would confirm a bullish outlook and could set the stage for a strong move toward the $1.4 level, as it will likely produce a short squeeze.

VIRTUAL Retests Key Support Level from Below

VIRTUAL broke below a descending triangle and is heading to retest its former $1.1 support level from below.

This retest can either confirm or invalidate a bearish outlook for this token, depending on what happens next. Trading volumes point to a potential bear trap. If positive momentum picks up its pace in the next few hours, short sellers could be squeezed out of their positions, and the rally could accelerate.

A move above $1.3 would confirm a bullish outlook as it would overtake three key levels – VIRTUAL’s trend line resistance, 200-period EMA in the 4-hour chart, and the $1.1 support.

The RSI has also sent a buy signal as the oscillator crossed above the 14-period moving average.

From these two tokens, Fartcoin seems to have the best odds of breaking out of its downtrend and rising strongly over the next few days.

Meanwhile, the best crypto presales like Maxi Doge ($MAXI) could deliver robust gains during altcoin season. This token has already raised $1.8 million just a few weeks after its launch.

Maxi Doge ($MAXI) Prepares to Pump Its Bags with 1000X Leveraged Trades

Maxi Doge ($MAXI) is what happens when a Shiba Inu takes too many Red Bulls and stares at crypto price charts for too long.

This Ethereum-based token is inspired by the success of other dog-themed tokens like Dogecoin (DOGE) but has its own identity – a degen trader that uses leverage to make the most out of a bull market like this.

Through the Maxi Fund, this project will allocate up to 25% of the proceeds raised via the presale to make leveraged bets on the most promising tokens in the market.

This gives $MAXI a solid use case, and holders will be rewarded by both the positive performance of these trades and the gains that this token experiences as its popularity grows and top exchanges pick it up.

To buy $MAXI, simply head to the official Maxi Doge website and connect your wallet. You can either swap USDT or ETH for this token or use a bank card to invest.