It was another successful week for cryptocurrencies as Bitcoin surged to its all-time high. Most other altcoins soared to their record or multi-year highs. As a result, the industry’s market cap surged to over $2.52 trillion. This article looks at the performance of THORChain (RUNE), Floki Inu, and EOS.
THORChain price forecast
THORChain has done well in the past few months as it transformed into one of the biggest players in the decentralised finance (DeFi) industry. Data by CMC shows that it has become the eighth-biggest platform in the DEX industry while its TVL has surged. It handled tokens worth over $538 million in the past 24 hours, with the most popular ones being BTC, ETH, and Dogecoin.
RUNE price went parabolic on Friday morning, soaring to a high of $7.10, its highest point since December. It is also slowly approaching its all-time high of $7.28. Along the way, the token has surged above the 50-day and 25-day Exponential Moving Averages (EMA).
It has also flipped the crucial resistance point at $6.44 into a support. This was a crucial price since it was the neckline of the inverse head and shoulders pattern. The token has also surged above the Ichimoku cloud.
Therefore, the outlook for the THORChain price is bullish as long as bulls are able to push it above the all-time high of $7.28. A break above that level will see it soar to the next point at $8.
EOS price prediction
Like other cryptocurrencies, the price of EOS has done well in the past few months. It has risen from last year’s low of $0.5192 to over $1.3500, a 162% increase.
Thus surge happened even as the ecosystem remained troubled and competition rose. While EOS is one of the oldest blockchain networks, its Total Value Locked (TVL) remains at $128 million. The TVL has been dropping in EOS terms, as sign that it is lacking traction.
Therefore, EOS price is rising because of the trends in the crypto industry where investors are buying everything. The token managed to flip the crucial resistance at $0.91, its highest point in December, into a support. This move helped to invalidate the double-top pattern.
EOS price has moved sharply higher than the 50-day moving average of $0.95 while oscillators have all pointed upwards. Therefore, while more upside is possible, I suspect that the coin will have a brief pullback and possibly retest the low of $1.00.
Floki Inu price forecast
Floki Inu has taken charge of the ongoing meme coin frenzy. The token surged from its 2023 low of $0.0000148, soaring to a high of $0.00018. This is equivalent to a 1,056% increase, making it one of the best-performing meme coins in the world.
The token has surged above all key psychological points like $0.00010 and $0.00012. It has also soared above all moving averages. Most recently, it has formed what looks like a double-top pattern whose higher side is at $0.0001737 and whose neckline is at $0.000091.
In most periods, a double-top pattern is one of the most bearish signs. Therefore, more gains for Floki will be confirmed if it moves above the upper side of the top at $0.00017. A move above that level will see it jump to the next resistance point at $0.00020.
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