It was a sea of red in the cryptocurrency market as investors waited for the next catalyst. Bitcoin crashed from the year-to-date high of over $73,000 to about $57,000, meaning that it has moved into a deep bear market.
Ethereum price has retreated by over 28% from its highest level. This article looks at key cryptocurrencies like Shiba Inu, Zilliqa, and Hedera Hashgraph (HBAR).
Shiba Inu price forecast
Shiba Inu token price has been in a strong bearish trend in the past few months. It has plunged from the year-to-date high of $0.000045 to a low of $0.00018, a 60% retreat. The token has crashed below the 50-day moving average. It has found substantial support at the 100-day MA level.
Meanwhile, the Relative Strength Index (RSI) has continued falling in the past few weeks. It has dropped from the year-to-date high of 98.63 to 37. It has even formed a bearish channel that is shown in black.
The Percentage Price Oscillator (PPO) has moved below the neutral point. Similarly, the Awesome Oscillator has remained below the neutral level since April 3rd. Therefore, the outlook for Shiba Inu is extremely bearish for now.
If this happens, the next important level to watch will be at $0.00018, its lowest swing in April. A drop below that level will point to more downside, with the next point to watch being at $0.00010, which is about 54% below the current level.
Read more: How to buy Shiba Inu.
Zilliqa price prediction
The price of Zilliqa has moved into a deep bear market as it crashed by over 50% from its highest point this year. It has moved from a high of $0.045 to about $0.022.
That crash happened as the altcoin sell-off has intensified and as concerns about its ecosystem remained. Zilliqa now has just $5.4 million in total value locked (TVL), with networks like Avely Finance, ZilSwap, and PlunderSwap have lost over 27% in assets in the past 30 days.
ZIL token price has crashed below the crucial support level at $0.0275, its lowest swing on March 19th. The 50-day and 100-day Exponential Moving Averages (EMA) have formed a bearish crossover.
The Awesome Oscillator has moved below the neutral point. At the same time, the Relative Strength Index (RSI) has dropped from a high of over 80 in February to about 40. The PPI indicator has moved below the neutral point.
Therefore, the outlook for Zilliqa is bearish if it crosses the key support level at $0.020, its lowest swing this month. A break below that level will point to more downside, with the next point to watch being at $0.018, its lowest point in January.
Read more: How to buy Zilliqa.
Hedera Hashgraph price forecast
Hedera Hashgraph’s HBAR token price has crashed from the year-to-date high of $0.1820 in April to a low of $0.0950. The token has plunged below the important support level at $0.1412, its highest point in March.
HBAR token has moved to the 50-day and 100-day moving averages. It is trading at $0.096, its highest point in January. The Awesome Oscillator has moved to the neutral point while the Relative Strength Index has moved below the neutral point of 50.
Meanwhile, the MACD indicator has moved below the neutral point at zero. Therefore, the outlook for the token is extremely bearish, with the next target to watch being at $0.068, its lowest point on April 13th.
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