Cryptocurrency prices bounced back this week as the crypto fear and index moved to the greed zone of 65 after last Friday’s Bitcoin halving. Bitcoin jumped to a high of over $66,800 on Tuesday morning while the total market cap of all coins soared by 3% to $2.45 trillion. This article looks at three popular cryptocurrencies: Ankr, Immutable X (IMX), and Theta Network.
Ankr price forecast
Ankr token price has bounced back in the past few days. It has jumped by almost 60% from its lowest point this week. The likely catalyst for this rebound is the upcoming launch of Neura, a blockchain network built for artificial intelligence (AI). It has a stack made up of Web3 features, AI tools, cryptography, and on-demand GPUs.
Neura, which was unveiled last month, has now moved to the public testnet on Monday. According to the developers, Ankr holders will be given the first chance to invest in the Neura tokens. Also, when its mainnet launch happens, Ankr tokens will move to the new chain.
The daily chart shows that the ANKR token price has bounced back from a low of $0.034 to a high of $0.054 on Tuesday morning. It has risen in the past six consecutive days. Also, the coin has now moved above the 50-day and 25-day Exponential Moving Averages (EMA).
The Relative Strength Index (RSI) has moved above the neutral point while the Relative Vigor Index (RVI) have all pointed upwards. Therefore, the outlook for the ANKR token is bullish, with the next point to watch being the psychological point at $0.060.
Immutable X price prediction
The Immutable X token price has bounced back in the past few days. It has rebounded from a low of $1.7185 last week to a high of $2.42, its highest point on April 12th. This recovery happened after the coin formed a morning star pattern last week.
The token recovered as investors cheered the ecosystem growth. For example, BattleBears, a game with over 40 million downloads, is set to launch on Immutable zkEVM. Further, over 100k people have signed up to Immutable Passport in the past few days while more highly funded games have launched on the network.
IMX token price is nearing the crucial resistance point at $2.60, its highest point in December last year. The Relative Strength Index has continued rising and is nearing the neutral point of 50. Therefore, more upside will be confirmed if the token rebounds above the 50-day moving average. If this happens, it will rise to the psychological point at $3.
Theta Network price analysis
Theta Network token price peaked at $3.81 in March and then tumbled by over 55% to a low of $1.7220 earlier this month. It has now bounced back by almost 40% to about $2.40. This is an important price since it was the lowest swing on March 20th of this year.
It is also a crucial level since it is along the 25-day and 50-day Exponential Moving Averages (EMA). The two moving averages have made a bearish crossover pattern. The price has moved to the strong pivot reverse point of the Murrey Math Lines.
Also, the token has moved above the first support of the Woodie pivot point. Therefore, the outlook for Theta is mildly bearish, with the next point to watch being at the first support at $2.
Contributors
