Cryptocurrency prices remained under pressure as traders waited for the March inflation report and FOMC minutes. Bitcoin plunged below $70,000 again, leading to substantial liquidations. This article provides a prediction of some popular cryptocurrencies like Internet Computer (ICP), BNB, and Filecoin.
Internet Computer price forecast
Internet Computer’s ICP token price peaked at $21 last month and then dipped sharply. The sell-off continued this week even after DFINITY Foundation launched Oympus, a Web3 accelerator platform on its blockchain. The project will provide developers with funding and mentorship programs.
ICP price has dived below the crucial support level at $16.28, its highest swing on January 3rd. It has also moved below the psychological level of $20. The Relative Strength Index (RSI) has dropped below the neutral point.
It has also retreated below the Woodie pivot point. On the positive side, it remains above the 50-day Weighted Moving Average (WMA). Therefore, there is a likelihood that the ICP token will drop to the first support of the pivot point at $13.8 and then resume the bullish trend.
The alternative scenario is where the ICP token price bounces back since it has done a break and retest pattern by moving to $16.30.
BNB price forecast
The Binance Coin (BNB) price has moved sideways in the past few weeks as its correlation with Bitcoin has improved. It peaked at $644.2 in March and then dived to a low of $498. Now, the token has moved to $577.
BNB token has remained above the 50-day and 25-day Weighted Moving Averages (WMA). It has also formed a bullish pennant pattern that is shown in black. This pattern is characterized by a long flag pole and a triangle pattern.
Therefore, there is a likelihood that the BNB price will soon have a bullish breakout in the coming weeks. If this happens, it will retest the important resistance point at $645, which is about 11% above the current level. Such a breakout will open the possibility of it soaring to over $700.
Filecoin price prediction
Filecoin token price has dipped from the year-to-date high of $11.85 in March to a low of $8.4. The coin has crashed below the important support level at $9.50, its highest swing in February 2023.
Filecoin is also consolidating at the 50-day and 25-day Weighted Moving Averages (WMA) while the Relative Strength Index (RSI) has dropped below the neutral point.
Like the FIL token, it has formed a bullish pennant pattern, which is a positive sign. Therefore, it will likely continue rising as buyers target the important resistance point at $11.8, which is about 40% above the current level.
Read more: How to buy Filecoin.
Contributors
