Crypto prices were mixed last week as most investors remained in the sidelines as the fear and greed index moved to the extreme fear zone of 4. Bitcoin rose by about 1% during the week, while other tokens like Cardano, XRP, and BNB were barely moved as US stocks plunged. This article looks at three top coins, including Hedera Hashgraph (HBAR), Near Protocol (NEAR), and Cardano (ADA).
Hedera Hashgraph (HBAR)
Hedera Hashgraph price has crashed in the past few months, mirroring the performance of other top altcoins. It has dropped from a high of $0.4050 in January to $0.1600 today. It has plunged and moved to its lowest level since November last year.
HBAR price has moved below the crucial support level at $0.1817, the 61.8% Fibonacci Retracement point. It was also a notable level since the coin failed to drop below it several times since February.
The Hedera Hashgraph price is also nearing a death cross as the spread between the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other. If this happens, it could signal more downside in the coming weeks.
On the positive side, the coin has slowly formed a falling wedge chart pattern, which happens when two trendlines near their crossover. Therefore, while the overall trend is bearish, there is a risk that the Hedera Hashgraph price will bounce back in the coming days.
A HBAR price surge will be confirmed if the Hedera Hashgraph price rises above the key resistance at $0.1817. A drop below $0.14 will invalidate the bullish outlook.
Near Protocol price forecast
The Near Protocol token price has crashed in the past few months. This decline is mostly because of the ongoing crypto crash and the fact that it is often seen as an artificial intelligence (AI) -focused coin. There are now concerns that the AI bubble is bursting.
Near has crashed from a high of $8.2620 in January to the current $2.5. This drop happened after it formed a triple-top pattern at $8.2183, and whose neckline was at $3.08, its lowest swing on August 6.
The token also formed a death cross pattern on January 31. It has also moved below the ascending trendline that connects the lowest swings since October 2023. Also, the coin has dropped below the 78.6% retracement level.
Therefore, the token will likely continue falling as sellers target the key support at $2.0. This view will become confirmed if the coin falls below the small double-bottom point at $2.1485.
Cardano price analysis
The daily chart shows that the Cardano price has crashed in the past few months. ADA has moved from a high of $1.323 in December to $0.652. The coin has moved below the crucial support level at $0.810, its highest swing on March 14.
Worse, the token is about to form a death cross pattern, which happens when the 50-day and 200-day moving averages flip each other. The coin has also formed a descending channel, a sign that bears are in control for now. Therefore, more downside will be confirmed if the coin drops below the support at $0.58, the lowest point in March.
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