Cryptocurrency prices wavered as the US dollar index crashed and fear and greed index remained in the fear zone of 25. Bitcoin was stuck below $84,000, while other tokens like EOS, Cosmos, Tezos, and Near Protocol plunged. This article explores the top four cryptocurrencies to watch in the next few days, including Sonic, Solana, Cardano, and XRP.
Sonic (S)
Sonic is one of the top cryptocurrencies because of its strong technicals and fundamentals. Fundamentally, Sonic has continued to grow even as the crypto industry remained under pressure. Data shows that the network’s total value locked (TVL) has jumped by 50% in the last 30 days to $1 billion.
Sonic has also continued to attract more developers as the number of DeFi applications jumped to 115. This growth is because the network shares its fees with developers, making it a more profitable venture for them.
Sonic price has also formed a double-bottom pattern on the four-hour chart. This pattern is made of two down-peaks, which are currently at $0.4088 and a neckline at $0.6327. Therefore, the coin will likely have a strong rebound in the coming days, with the initial target being at the neckline at $0.6327, followed by the all-time high of $0.9878.
Ripple (XRP)
XRP is a top cryptocurrency to watch because of its technicals. It was trading at $2.1470 on Saturday, up from the important support level at $1.8945. This is a crucial support because it was the neckline of the head and shoulders chart pattern, a popular bearish sign.
Therefore, by moving further away from the neckline it is a sign that bulls are finding strength and avoiding a catastrophic crash to $1 and below. Still, the coin may resume the downtrend in the coming weeks.
The bearish view of the H&S pattern will be invalidated if it rises and crosses the shoulders section of this pattern at $3.4. A drop below this month’s low of $1.6185 will invalidate the bullish XRP price forecast.
Read more: XRP price prediction: the next Ripple target after losing key support
Cardano (ADA)
Cardano is another top crypto to watch as concerns about its role as a ghost chain remains. Data shows that Cardano has a total value locked (TVL) of just $303 million, a tiny amount for a cryptocurrency valued at over $21 billion. Most importantly, the amount of stablecoins in the network stands at $31.4 million, also a tiny amount.
Cardano price has bounced back after crashing to a low of $0.515 this month. It jumped to a high of $0.656, its highest point since April 6.
Cardano has moved inside the symmetrical triangle shown in black and is attempting to move above the 25-day moving average. The coin has also risen above the strong, pivot, reverse point at $0.5860. Therefore, a cross above the 25 EMA will point to more gains, potentially to the major S&R level at $0.80, up by 22% from the current level.
Solana (SOL)
Solana is also a top cryptocurrency to watch because its price has moved above the ultimate support point at $125. It has also jumped above the key level at $120, where it has failed to drop below several times since last year.
Solana is also in the spotlight as some of its meme coins like Fartcoin, Popcat, and Goatseus Maximus surge. This rally has led to an immediate increase in the volume handled in its top DEX networks like Orca, Jupiter, and Raydium.
Therefore, the token may keep rising as bulls target the 50% Fibonacci Retracement level at $150, which is about 17% above the current level.
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