The crypto market made some improvements today, June 14, as investors bought the dip following Friday’s crash. Bitcoin price held steady above $105,000, while the market capitalization of all tokens rose to $3.4 trillion.
This article provides a forecast of top cryptocurrencies like Pocket Network (POKT), Status (SNT), MAP Protocol (MAPO), and Sky (SKY).
Pocket Network price prediction
The daily chart shows that the Pocket Network price bottomed at $0.008425 in April. This rebound happened after it went through a prolonged period of consolidation, which, in this case, was the accumulation period of the Wyckoff Theory.
The POKT price then surged after Upbit, the biggest South Korean crypto exchange listed it. It also jumped after the developers rolled out a key upgrade.This surge pushed it to a high of $0.0975, its highest point since June 13 last year.
Pocket Network price then pulled back amid profit-taking among crypto investors. It dropped to a low of $0.04650, its lowest point on June 9.
This pullback was part of the formation of the handle section of the cup-and-handle pattern. This cup has a depth of about 90%.
Therefore, measuring this distance from the cup’s upper side gives it a target of $0.1400, the highest swing since May 17. A drop below the support at $0.046 will invalidate the bullish view.
Status price forecast
The Status token price bottomed at $0.01598 in April as the crypto market crash happened. This was a notable level since it coincided with the lowest swing in August last year. It was the double-bottom point whose neckline was at $0.0849.
Status token has moved above the 50-day and 100-day moving averages. It has also moved above the ascending trendline that connects the lowest swing since April 9.
The uptrend will likely continue as long as it is above the two moving averages and the ascending trendline. The key point to watch will be at $0.056, the highest point on May 29, which is about 70% above the current level. A drop below the ascending trendline will invalidate the bullish view.
MAP Protocol price technical analysis
The daily chart shows that the MAP Protocol token dropped to $0.0039 in April and went through a consolidation as part of the accumulation phase of the Wyckoff Theory. It then went parabolic on Friday, reaching a high of $0.010, its highest point on February 2.
This surge happened after the token was added to Burrito Wallet, a leading wallet provider.
MAP Protocol price remains above the 50-day and 25-day Exponential Moving Average. The MACD and the Relative Strength Index (RSI) have all pointed upwards and moved to the overbought level.
Therefore, the most likely scenario is where the MAP Protocol token retreats in the next few days as investors take profits. If this happens, the next point to watch will be at $0.0060. A move above $0.01 will invalidate the bearish MAPO forecast.
Sky Protocol price forecast
Sky Protocol, formerly known as Maker, bottomed at $0.032 in February this year. It has formed an ascending channel, comprising of a series of higher highs and higher lows since March 9.
The current Sky price is slightly below the upper side of the channel. It has also moved slightly above the 50-day and 25-day EMA, while the MACD indicator has pointed upwards.
Therefore, the token will likely continue rising as bulls target the key resistance level at $0.10. The alternative scenario is where the Sky price retreats and retests the lower side of of the channel at $0.070.
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