Although lacking volatility, all three major cryptocurrencies initially dropped and then rose again. However, the profits were marginal.

In summary, Federal Reserve Chairman Jerome Powell pledged a data-dependent approach to interest rate hikes, resulting in a slight increase in interest rates and a sell-off of the US dollar. However, BTC, ETH, and XRP prices are still experiencing range-bound fluctuations.

Currently, Bitcoin's price maintains an overall upward trend, with a key support level at $29,000. Ethereum's price needs a significant push to break through $1,873 and surpass the 50-day moving average resistance. XRP is facing initial resistance at $0.7237 (50-day moving average) and has potential for a pullback on the 3-hour chart.

Macro-economic factors have already been priced in

The slight market volatility during and after the FOMC indicates that the macro-economic conditions have been priced into the market.

It is worth noting that the market often reacts to unexpected developments, but this interest rate hike was within investors' expectations, specifically a 0.25% increase.

Furthermore, Jerome Powell's comments today did not cause any significant market fluctuations. Currently, the cryptocurrency market is returning to and continuing its previous trends under normal buying and selling activities.

Bitcoin's price finds temporary support.

On the 4-hour price chart, BTC shows an ascending expanding wedge pattern. Currently, $29,000 is a critical support level for BTC, as breaking below this level may indicate potential bearishness.

Although there is currently support, investors should closely monitor the upward support trendline, as it is crucial for determining future price trends. However, if the price falls below the upward support trendline, it could indicate a bearish scenario, with the same trendline serving as resistance. This would indicate a potential trend reversal and a shift in market sentiment from bullish to bearish.

BTC/USD 4-hour chart, Source: TradingView.

If the trendline is breached, the next important support level for Bitcoin is $28,452, which is 2.93% lower than the current price level. Breaking below this support could lead to further downward momentum. It is worth noting that the MACD histogram has just crossed above the zero line, indicating increased buying activity in the near term, although the trading volume remains limited.

Ethereum's price faces consolidation. 

The daily price chart shows ETH breaking below the 50-day moving average and encountering resistance at the 38% Fibonacci retracement level of $1,873. Breaking and closing above this level could change the trend, but technical indicators suggest it is unlikely in the short term. The Awesome Oscillator (AO) histogram indicates bearish pressure below the zero line, while the RSI is moving sideways.

ETH/USD daily chart, Source: TradingView.

Currently, support lies at the 50% retracement level of $1,827, which is approximately 1.7% lower than the current price level. As the market seems to have digested the FOMC's decision to raise interest rates by 25 basis points, there appears to be consolidation between $1,827 and $1,873.

XRP's price may face a pullback. 

The 3-hour chart shows XRP encountering initial resistance at $0.7128, aligning with the position of the 25 EMA. A decisive breakthrough and subsequent closing above this level could pave the way for further gains towards the subsequent resistance level at $0.7754.

However, the cross of the higher 50-day moving average and the 25-day moving average suggests a bearish sentiment that could prolong the period of consolidation. In this case, the initial support level is $0.6673.

XRP/USD 3-hour chart, Source: TradingView.

Nevertheless, the AO oscillator histogram displays green bars, indicating buying pressure, while the Relative Strength Index (RSI) is trending upwards. These factors suggest some positive momentum in the short term for XRP's price, and investors can wait for a closing price above $0.7128 before shifting towards a bullish stance.