Cryptocurrencies saw a sharp dip in prices as bond yields surged, with most coins attempting to bounce back in what could be a dead cat bounce. Bitcoin went from consolidating at $29,000 to plunging to $25,000, while Sei, one of the newest tokens, dropped more than 80% from its all-time high. This article will take a look at some of the top-performing tokens such as THORChain, Bitcoin SV, and Akash Network, and provide price predictions for each.
Akash Network Price Prediction
Akash Network’s token, AKT, has not experienced a major meltdown this week. On the daily chart, the token rose to a high of $1.5580, the highest level since April 2020. The token is now above the 50-day and 25-day moving averages, and the Relative Strength Index (RSI) is over the overbought level. Additionally, the token flipped the important resistance level at $0.7462 into a support. This level was the highest point on June 1st and July 4th, and the token has since formed a double-top pattern whose neckline is at $1.1077. This is typically a bearish sign, suggesting that the Akash Network price will likely fall in the coming days as buyers start to take profit, with the next level to watch being the psychological level at $1.0.
THORChain Price Prediction
THORChain’s RUNE price has made a bullish breakout in the past weeks, climbing from $0.9170 to a high of $1.60. It has broken the important resistance point at $1.110, the highest point on July 3rd, and the token is now above all moving averages and about to form a golden cross pattern. Oscillators such as the RSI and Stochastic Oscillator are in overbought levels, and the outlook for the RUNE price is bullish, with the next level to watch being at $2.
Bitcoin SV Price Forecast
Bitcoin SV price was not left out during the crypto crash this week, dropping below the important support at $34.33, the lowest level on July 27th. The token also slipped below the 25-day and 50-day moving averages, and is now rebounding and flipping the resistance at $29, the lowest point on May 8th. This rebound looks like a dead cat bounce, signaling that the coin will likely resume the bearish trend in the coming days. The next level to watch will be at $25.
To buy RUNE, Binance and KuCoin are popular options, while AVATrade and OKX are the exchanges of choice when it comes to buying Bitcoin SV.
