CPI Results to Drive Crypto Market as Jupiter, Stacks, Celestia Face Bearish Pressure

The crypto market is currently in a state of anticipation as it awaits the release of the latest consumer price index (CPI) findings. This economic data release is expected to significantly influence the market's sentiment and the likelihood of rate cuts, which have been a subject of speculation among investors. The current economic backdrop has led to a decline in bets on rate cuts, creating a buzz around key digital assets that are poised for the next surge.

Jupiter (JUP) has experienced moderate weakness over the past month, with a decline of around 5.58%. Over a six-month period, the decline is more significant, approximately 58.55%, indicating a substantial correction from previous highs. Jupiter's price action has been within a range from $0.3986 to $0.6539, testing support close to $0.2726. This prolonged downturn suggests strong selling pressure, leading to a prevailing bearish sentiment in the market. The current price action hovers around critical levels that attract the attention of traders. Jupiter faces resistance near $0.7832, with a more formidable barrier at $1.03, while solid support can be found around $0.2726 and a deeper safety net at $0.0173. Technical indicators like an RSI of 38.95 show that bears have the upper hand. A negative Awesome Oscillator further emphasizes bearish momentum. Traders may consider setting limits close to support, waiting for a clear reversal before looking for a movement beyond resistance.

Stacks (STX) has also experienced a steady slide over the past month, with a decline of approximately 34%. Over the last six months, the price has declined by nearly 71%, reflecting significant downward pressure. A one-week drop of 12% added to the overall negative sentiment, showcasing an environment of substantial weakness. These figures highlight a market struggling to regain momentum during a volatile period with minimal signs of recovery. The current price action is in a range between $0.61 and $0.97, with key levels to monitor. Immediate support is near $0.47, while resistance is at $1.21. Additional support and resistance are marked at $0.10 and $1.58 respectively. Technical indicators show mixed signals, with the Relative Strength Index at 34 indicating possible overselling. Bears currently dominate the market, although oscillators suggest a potential opportunity if prices hold at lower levels and bounce from support. Trading ideas involve watching for a break above $1.21 or maintaining support above $0.47, with a cautious strategy in place until a clear trend emerges.

Celestia has experienced a sharp decline over the past months, with a one-month drop of 26.19% and a six-month decline of 69.57%. A weekly loss of 7.78% indicates ongoing downward pressure. The price range has fluctuated between $1.70 and $3.05 during this period, reflecting significant sell-offs and weak buying interest in response to persistent bearish signals. Celestia currently trades between approximately $1.70 and $3.05. Nearest support is at $1.20, while resistance sits near $3.91, creating a clear trading window. Weak momentum is evident with an Awesome Oscillator at -0.52 and a Momentum Indicator at -0.48, indicating bear control. The relative strength index of 35.46 shows the coin is oversold, highlighting risks for upward moves. Price action is range-bound without a clear trend, and trading ideas suggest entries near $1.20 aiming for rebounds to around $3.05, with caution for potential short positions if support is breached.

The crypto market's next big move hinges on the CPI results, which could impact rate cut expectations. Jupiter (JUP), Stacks (STX), and Celestia (TIA) stand out as strong picks for potential gains in the coming rally. These coins offer promising prospects due to their unique features and market positions. As the situation evolves, these three cryptocurrencies are worth watching closely.