Defying the Fed: These 3 Altcoins Ignored Powell, Top Crypto Biggest Gainers

Key Takeaways

• AERO broke out of a falling channel, fueled by its Coinbase listing and becoming the top liquidity pool on Base.
• KAIA surged past resistance and rose by nearly 30%, forming a bullish crossover and clearing a descending triangle.
• Unlike the other two, JTO could face correction, and if selling pressure continues, the token may drop to $2.08

On Wednesday, June 18, Fed Chair Jerome Powell announced that the Federal Open Market Committee (FOMC) would keep interest rates unchanged.

While this decision left several crypto subdued, three altcoins defied the risk-off tone, emerging as the week’s crypto biggest gainers.

In this analysis, CCN reveals which assets stood out among the top 100. We also disclose why these altcoins gained momentum even as macro uncertainty lingered.

Aerodrome Finance (AERO)

AERO, Aerodrome Finance’s native token, is one of crypto’s biggest gainers this week. Its price has increased by 45% within the past seven days.

As of press time, AERO is trading at $0.90. According to CCN’s findings, the surge is mainly attributed to two key catalysts.

First, AERO’s recent integration with Coinbase, announced last week, significantly boosted traders’ accessibility. Second, demand soared as Aerodrome’s top liquidity pool overtook Ethereum’s.

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From a technical standpoint, AERO has successfully broken out of a falling channel. Supporting this breakout, the Relative Strength Index (RSI) has climbed steadily, signaling renewed bullish momentum.

In addition, the Awesome Oscillator (AO) has flipped into positive territory. If this trend holds in the coming week, AERO could break above the $1.07 resistance, aligning with the 0.618 Fibonacci retracement level.

A confirmed breakout above this level could open the door for a rally toward $1.56. However, if profit-taking intensifies before month-end, AERO’s price may reverse course, with a potential pullback below $0.50.

Kaia (KAIA)

KAIA’s price has increased by over 28% this week, making it one of the crypto’s biggest gainers. As CCN previously reported, the altcoin rallied this much against the unchanged Fed rate cut due to increasing buying pressure.

On the daily chart, KAIA’s price has broken above the upper trendline of a descending triangle. With this in place, the Moving Average Convergence Divergence (MACD) has formed a bullish crossover.

If sustained, the token might break the resistance at $0.22. It could also trade higher as there is speculation that the Powell-led Fed could cut rates in July

“I think we are in a position to cut rates. That would be my view, whether the committee would agree or not. Data is good, and GDP growth could be close to our long-range target for this year.” Fed Governor Christopher Waller told CNBC.

If so, KAIA’s price could rise to $0.29, especially with the green line of the indicator below the price.

However, if bears outpace bullish dominance, the altcoin might experience a correction below $0.15.

Jito (JTO)

Last on this week’s list of crypto’s biggest gainers in JTO, the native token of Solana-based token pool Jito. Over the past seven days, JTO’s price has risen by nearly 20%.

In the process, the price surged to $2.35 on Thursday, June 19. However, the 4-hour chart shows that JTO might find it challenging to continue to hike.

Specifically, the MACD has formed a bearish crossover, indicating that sellers have become dominant. Should this trend remain the same, JTO’s price could drop to $2.08.

In a highly bearish scenario, the altcoin could drop to $1.87. On the contrary, if the MACD reading turns positive, the cryptocurrency’s value could jump closer to $3.