Crypto prices held relatively steady this week, even as the war in the Middle East continued. Bitcoin rose to a monthly high of $74,500, while the industry market capitalization jumped to $2.4 trillion. This article provides a forecast for top gainers like Lombard (BARD), Humanity Protocol (H), and OKB (OKB).
OKB Price Prediction
The OKB token price went parabolic on Thursday, reaching its highest level since November last year. This rebound happened after ICE, the parent company of the New York Stock Exchange (NYSE) invested in OKX at a $25 billion valuation. That makes it the third most valuable crypto exchange after Binance and Coinbase.
The token’s surge happened after remaining in a consolidation phase for weeks. It is common for tokens to surge whenever such important news breaks. However, in most cases, these gains are normally short-lived as ICE’s investment in OKB will not have a direct impact on the token.
A good example of this is when the token went parabolic in August last year when it revealed plans to cut its circulating supply. It jumped by over 455% within a few days and then resumed its downward trend.
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Humanity Protocol Price Prediction
The Humanity Protocol token staged a strong comeback on Thursday. It jumped to a high of $0.1906, its highest level since February 16 this year. It has soared by 106% from its lowest point this month, making it one of the top gainers in the crypto market.
The token jumped after Binance launched a trading competition allowing people to trade it and receive exclusive rewards worth $200k. Data compiled by CoinMarketCap shows that most of its trading volume was on Binance Alpha.
The daily chart shows that the Humanity Protocol token rebounded to $0.1885, its highest level since February 17. It has moved above the 50-day Exponential Moving Average.
Like OKB, these gains may be short-lived as it has formed a head-and-shoulders pattern, while the Average Directional Index (ADX) has retreated to its lowest level this year. A rising ADX is usually a sign that an asset is gaining momentum and vice versa.
Lombard price prediction
Lombard, a top player in the Bitcoin staking industry, soared to its all-time high this week. CMC data shows that its volume jumped by 130% to over $339 million.
This rebound happened even as the total value (TVL) held steady. It has moved to 14,547, down from the all-time high of 21,513.
There was no fundamental reason why the BARD price jumped. As such, the best way to explain this is technical. The daily chart shows that the token remained in a consolidation phase since October last year. This consolidation was part of the accumulation stage of the Wyckoff Theory.
It has now moved to the markup stage, which is characterized by high demand as FOMO continues.
Therefore, the most likely Lombard price prediction is bearish as it will enter the distribution and markdown phase. If this happens, the next key level will be at $1.20, its highest swing in December.
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