- Cryptocurrencies have surged in the past few days.
- Avalanche rose after reaching a deal with Amazon.
- FTX Token rose as FTX disclosed it had found $5 billion.
Cryptocurrency prices surged on Thursday as investors reacted to the latest inflation data. Bitcoin surged above $18,000 for the first time in months while Ethereum rose above $1,400. Other coins and tokens like Fetch.ai, Waves, and Litecoin continued surging, lifting the total market cap of all coins to over $900 billion. This coin price prediction will look at popular coins like Avalanche (AVAX), FTX Token (FTT), and Ocean Protocol.
Avalanche (AVAX) price prediction
Avalanche price did well on Thursday as investors reacted to the latest deal between Amazon and the company. In a statement, Amazon said that it will use Avalanche as its main blockchain service provider. Most of this work will be related to its AWS product, which is the biggest cloud computing network in the world.
While this deal is a stamp of approval, historically, such gains tend to be short-lived. For example, Flow has struggled despite inking deals with companies like Meta Platforms, NBA, and the NFL. Similarly, Polygon MATIC has struggled despite reaching deals with Adidas and Stripe.
The 4H chart shows that Avalanche price went vertical after the deal with Amazon. As it rose, the coin moved above the important resistance points at $13.65 and $14.38. It has moved above the important 25-day and 50-day moving averages. Therefore, I suspect that the AVAX price will continue rising briefly and then retreat in the coming days. The target for the coin is at $13.
Find out how to buy Avalanche.
FTX Token (FTT) price prediction
The FTX Token price surged after the latest twist in the ongoing bankruptcy proceedings. In court filings, the company said that it had found over $5 billion in liquid assets. These assets are in form of cryptocurrencies and stakes in companies. As such, this means that the company will narrow the amount that it owes its customers and creditors.
The FTT price surged to a high of $1.48, which was much higher than the all-time low of $0.8177. It has formed a bullish pennant pattern and moved above the 25-day moving average. While the token will maintain its volatility, I suspect that it will continue rising in the next few days. Read my past article on why it is risky to short FTX Token.
Ocean Protocol price prediction
The 4H chart shows that the OCEAN price has been in a strong bullish trend. It has jumped by more than 105% from the lowest point in 2022. Ocean Protocol has become one of the best-performing tokens in the past few months.
It has risen above the important resistance point at $0.2238, the highest point on December 12. Ocean is also above the 50-day moving average. Therefore, I believe that the token has a bullish momentum, which will see it rise to a high of $0.26.
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