- Cryptocurrencies had a strong performance this week as demand rose.
- Kaspa price surged to a record high after Binance listed its futures.
- Cosmos price boomed as THORChain became a leading DEX in the US.
Cryptocurrency prices had a strong week as demand continued rising and as the US published encouraging consumer and producer inflation figures. The total market cap of all cryptocurrencies soared to over $1.45 trillion as Bitcoin jumped to the highest point in 18 months. This article looks at some of the most popular cryptocurrencies like Kaspa, Near Protocol, and Cosmos (ATOM).
Cosmos price prediction
Cosmos had a strong week as its ecosystem continued thriving. For example, THORChain has moved to become one of the biggest decentralized exchanges (DEXs) as it handles hundreds of billions of cryptocurrencies every day. RUNE, its token has soared by more than 50% in the past few days.
ATOM price has jumped from a low of $6.18 in October to over $10 today. It had formed a double-bottom pattern at $6.18. On the daily chart, the token has risen to the 38.2% Fibonacci Retracement level. Further, the 50-day and 100-day Exponential Moving Averages (EMA) have formed a bullish crossover.
Cosmos token’s Relative Strength Index (RSI) and the Stochastic Oscillator have continued rising. Therefore, the outlook for the Cosmos ATOM price is bullish as buyers target the 50% Fibonacci Retracement level at $11.67.
Near Protocol price prediction
Near Protocol is one of the popular smart contract platforms in the blockchain industry. It is known for its fast speeds and lower costs because of its use of sharding technology. Like other cryptocurrencies, NEAR price has bounced back in the past few days.
The token bottomed ar $0.9416 a few weeks ago and has now soared to almost $2. It is sitting at its highest point since May 2023. At the same time, NEAR has crossed the important resistance point at $1.62, the highest point in June of this year.
NEAR Protocol has jumped above the 50-day and 100-day moving averages while the Relative Strength Index (RSI) is nearing the overbought level of 70. This is a sign that bulls have the momentum, which could see them retest the next vital resistance at $2.43, the highest level in April.
Kaspa token price forecast
Kaspa is a cryptocurrency that aims to be the fastest proof of work (PoW) network in the world. The token surged hard during the week after Binance listed its futures while Uphold listed the token, Cryptocurrency prices usually jumps after being listed by respected companies like Binance, OKX, and Coinbase.
KASPA price jumped to a high of $0.1482, which was about 2,860% above its lowest level this year. This surge brought its total market cap to over $2.79 billion. It also led to a major increase of its total daily trading volume.
Kaspa price remains above the 50-day and 100-day moving averages and the important resistance points at $0.054 and $0.10. The Relative Strength Index (RSI) has moved to the extremely overbought point at 80.
Therefore, I suspect that the risk/reward for Kaspa is not favorable for now. In this case, there is a likelihood that the price will pull back a bit in the coming days as buyers take profits. If this happens, the next price to watch will be at $0.10.
