Several major altcoins have bounced in the days leading up to the Federal Reserve’s policy decision, with traders watching closely defined support and resistance zones on XRP, Hyperliquid, and Ethena (ENA).
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The moves arrive as markets price in the outcome of the FOMC meeting, leaving technical setups vulnerable to a shift in risk appetite once the announcement lands.
XRP builds inverse head-and-shoulders around the $1.25 level
XRP has rebounded and is currently trading near $1.33. On the daily chart it appears to be forming an inverse head-and-shoulders bottom, with the potential right shoulder sitting near the $1.25 support area, says veteran crypto chart analyst Ali Martinez.
Holding that level would keep the pattern intact and open a path toward the neckline around $1.55. A daily close above the neckline could then signal a breakout toward $2.10. On the downside, a clear break of $1.25 would shift attention to the $0.98 zone.
Hyperliquid retests rising trendline after prior strong rallies
Hyperliquid has bounced from roughly $74, a level that coincides with a rising trend-line in place since late January. Previous touches of the same trendline were followed by rallies of 87 percent in late January and 72 percent in early August, 2026.
If $74 holds once more, the next upside area in focus sits near $110. A break below would instead put $67 and then $60 into play.
Ethena tests upper boundary of descending channel
Ethena has climbed roughly 18 percent over the past few days and is now testing the upper boundary of a descending channel. A four-hour close above $0.22 could confirm a breakout and open the way toward $0.24 or even $0.27. Inability to clear that ENA price resistance would leave the token vulnerable to a pullback toward the channel’s mid-range at $0.18.
FOMC decision remains the immediate price catalyst
These altcoin rebounds face an immediate test from the Federal Reserve meeting. XRP and Hyperliquid need to defend their respective support zones, while Ethena (ENA) still needs to push through overhead resistance.
Until the policy outcome becomes clear, the technical patterns sit secondary to broader macro positioning, with traders likely to reassess the setups once the Fed’s decision and guidance are released following the press conference tonight.
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