Crypto prices pared back some of the losses made earlier on Tuesday as the Trump administration appeared to walk back some of its tariff threats. Bitcoin jumped to $87,000, while the valuation of all coins rose to $2.88 trillion. The crypto fear and greed index remained in the fear zone. This article provides forecasts for coins like Bitcoin Cash (BCH), VeChain (VET), Monero (XMR), and Hedera Hashgraph (HBAR).
Bitcoin Cash (BCH) price forecast
Bitcoin Cash price has been under pressure in the past few months as it crashed from $640 in November to $272. This crash makes it a bit cheaper than Litecoin, a similar crypto that has jumped recently amid the LTC ETF approval odds.
BCH price bottomed at $272.82 on Tuesday, a notable level since it was the lowest level in February and August last year. It has formed a giant triple-bottom chart pattern whose neckline is at $640. A triple-bottom is one of the most popular reversal chart patterns.
The Relative Strength Index (RSI) has continued rising and has moved above the neutral level of 50. Also, the Percentage Price Oscillator (PPO) has made a bullish crossover, meaning that it is regaining momentum.
Therefore, the Bitcoin Cash price will likely keep rising as bulls target the next psychological point at $400. In the long-term, Bitcoin Cash price will likely keep rising as bulls target the double-bottom’s neckline at $640. A drop below the support at $272 will invalidate the bullish view.
VeChain price prediction
VeChain price has remained under pressure in the past few months as it dropped from a high of $0.080 in December to the current $0.028. On the daily chart, the coin has formed a falling wedge chart pattern whose two lines are about to cross each other. This price is slightly above the key support line at $0.019, where it formed a triple-bottom pattern in 2023.
The PPO indicator has moved below the zero line, while the Relative Strength Index (RSI) has moved slightly above the descending trendline. Therefore, the VeChain price will likely have a bullish breakout, as bulls target the next key resistance level at $0.0515, its highest level in April last year.
A drop below the key level at $0.01900 will invalidate the bullish view as it will be a signal that there are still more buyers left.
Hedera Hashgraph price analysis
The Hedera Hashgraph price has moved sideways in the past few days even after the developers unveiled a deal with Swift. This deal will help to grow its usage since Swift is one of the biggest players in the financial service industry.
The HBAR price has moved between the 50% and 38.20% Fibonacci Retracement level. It has also formed a head and shoulders chart pattern whose neckline is at $0.15. A H&S pattern is one of the most bearish patterns in trading.
Therefore, the Hedera Hashgraph price will likely have a bearish breakdown as long as bulls remain above the neckline at $0.15. More gains will be confirmed if the coin rises above the right shoulder at $0.2800.
Read more: HBAR price forecast: here’s why Hedera Hashgraph will hit $1
Monero price analysis
Monero coin has been in a strong bullish trend in the past few months. This recovery happened when the token bottomed at $97.90, its lowest level on February 5.
Monero price has jumped above the key resistance level at $185.60, the highest swing in January and December 2023 and June 2024. It was the upper side of the ascending triangle pattern.
Monero coin has remained above the 50-day moving average and is nearing the 38.6% retracement point. Therefore, the coin will likely keep rising as bulls target the next key resistance at $308, the 50% retracement point.
The post Crypto price predictions: Bitcoin Cash, VeChain, Hedera, Monero appeared first on Invezz