- Cryptocurrency prices had a strong performance this week.
- Bitcoin surged to the highest point in over 17 months as demand rose.
- Other altcoins like CRO, HBAR, and RNDR tokens also jumped.
Cryptocurrencies had another strong week as Bitcoin surged to the highest level in over 17 months. This rally triggered another pump for other digital currencies like Solana, Hello Labs (HELLO), and Star Atlas. This article will look at some of the top cryptocurrencies and what to expect during the weekend.
Render Token (RNDR) price prediction
Render Network is a blockchain project that aims to disrupt the Graphics Processing Unit (GPU) industry. It is often seen as the blockchain version of Nvidia, the biggest semiconductor company in the world by market cap. This explains why RNDR has been one of the best-performing cryptocurrencies this year.
Render Token price came in the spotlight this week as investors reacted to news that the network will move from Ethereum to Solana. The goal, according to the developers, will be to take advantage of Solana’s high throughput and low transaction fees. As part of this transition, Render will spend over $2.6 million.
The RNDR token price initially surged to a high of $2.68 this month. It has now pulled back to $2.18, the lowest point since October 27th. On the daily chart, the coin has dropped below the 23.6% Fibonacci Retracement level.
Render still remains above the 50-day and 25-day Exponential Moving Averages (EMA) while the Relative Strength Index (RSI) has dropped from the extreme overbought point of 90 to 55. Therefore, the coin will likely drop and retest the psychological point at $2 and then resume the bullish trend. If this happens, the next point to watch will be at $2.50.
Cronos (CRO) price forecast
Cronos, formerly known as Crypto.com, was one of the top-performing cryptocurrencies this week. The token jumped to a high of $0.070, the highest point since May 8th of this year. CRO has surged by almost 40% from the lowest point this year. It has also formed a major bottom at $0.050.
Cronos has moved above the 50-day and 25-day Exponential Moving Averages (EMA). At the same time, the Relative Strength Index (RSI) has moved to the extreme overbought point.
Therefore, the outlook for the coin is still bullish, with the next important level to watch being at $0.081, the highest swing on April 28th. The alternative scenario is where the coin retests the support at $0.060.
Hedera Hashgraph Price prediction
Hedera Hashgraph (HBAR) price also drifted upwards this week as other cryptocurrencies rallied. Its movement was relatively limited compared to other coins like Solana and Bitcoin. It jumped and retested the important resistance point at $0.056.
On the daily chart, the coin has moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) is nearing the overbought point. HBAR has also moved slightly above the Ichimoku cloud indicator.
Therefore, the outlook for HBAR is moderately bullish for now. If the upside continues, the next level to watch will be at $0.06.
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