Cryptocurrency rates had a strong week despite the banking crisis that escalated. Bitcoin peaked at $29,000, the highest in months, while Ethereum hovered above $1,800. The total market capitalization of all digital currencies rose to over $1.17 trillion. This coin price forecast article will examine 3 of the most popular altcoins: OAX, Mask Network, and Arbitrum.
OAX Price Prediction
OAX experienced one of the most impressive climbs this week, reaching its highest level since April of 2021. The token has risen by over 500% since its lowest level of last year and 283% since the lowest level of this year. Binance’s decision to list the OAX.USDT pair in its platform was a major catalyst.
The daily chart shows that the OAX has gone parabolic in the last few days. The token broke through the key resistance at $0.3853, the highest point on February 20th, and all moving averages. OAX also broke above the significant point at $0.3275 (November 30 high). Therefore, the token is likely to drop as the bullish momentum slows and investors take profits. In this scenario, the key levels to watch are $0.385 and $0.3275. The latter is about 26% below the current level.
Mask Network Price Prediction
Mask Network was one of the strongest crypto assets this week, with developers receiving 257K tokens from Arbitrum, the second-largest layer-2 smart contract platform. This was the culmination of the token’s role as one of the top promoters of Arbitrum.
The MASK token has been in a strong upward trend this year, surpassing the important resistance at $5.41, the highest point on February 3rd. It also moved above $5.94 (November 3 high) and all moving averages. It appears that a small double-top pattern is forming at $6.86. Therefore, the token is likely to decline over the weekend as holders take profits. In this case, MASK may drop to the support at $5.
Arbitrum Price Outlook
The biggest news in the cryptocurrency world was the launch of the ARB token by Arbitrum’s airdrop. The token skyrocketed, giving it a market capitalization of around $2 billion. On Friday, it hit a high of $1.5685 and then pulled back to a low of $1.40. Generally, crypto tokens tend to surge on their first days and then decline as insiders take profits. Thus, the token could have a bearish breakout, with sellers targeting the key support level at $1.25.