- Cryptocurrencies moved sideways this week as investors focused on the Fed.
- There was also a focus on the failing American banks in the US.
Cryptocurrency prices drifted upwards on Friday as concerns about the banking sector eased. In the US, PacWest stock price jumped by over 80% while other regional banks like Western Alliance Bank and Comerica jumped by double-digits. Bitcoin price approached the key resistance point of $30,000 while Ethereum is nearing $2,000. In this article, we will look at some of the best-performing altcoins, including SSV, IDEX, and TOMO.
SSV price prediction
SSV Network is a leading infrastructure project in the blockchain industry. The platform provides the tools that liquid staking developers like Lido use to simplify their validation. This happens by using the Distributed Validator Technology. It is designed for staking pools, solo stakers, DAOs, and other institutions. SSV has over 2,770 holders.
The daily chart shows that the SSV token has been in a bearish trend in the past few weeks. It has crashed from a high of $50 to about $22. It has moved below the 50% Fibonacci Retracement level. The token has also crashed below the 50-day exponential moving averages (EMA). It has now moved to the 200-day EMA.
Therefore, I suspect that the token will resume the bearish trend in the coming days as bears target the next key level at $20.
IDEX price prediction
IDEX was one of the top-performing cryptocurrencies this week as it jumped to a high of $0.1378, the highest point since August 8. The token jumped as the number of IDEX holders jumped to over 15,000. It was about 14,000 a month ago.
Read more: Here’s why IDEX is soaring.
On the daily chart, we see that the IDEX token soared above the key resistance point at $0.082, the highest point on February 20th. IDEX has moved above the 50-day moving average while the Relative Strength Index (RSI) moved to the overbought level.
Therefore, there is a likelihood that IDEX will continue rising during the weekend as buyers target the next key resistance at $0.15. A move above this level will see it jump to $0.20.
TOMO price prediction
TOMO, the token of Tomochain, was one of the best-performing cryptocurrencies this week. The token soared to a high of $1.05, the highest point since May 4th last year. It has moved above the 50-day and 25-day moving averages while the Relative Strength Index (RSI) and MACD have jumped.
Therefore, the token will likely continue rising as buyers target the next key resistance point at $1.43, the highest point on May 2 last year.
