- Cryptocurrencies came under intense pressure this week.
- Bitcoin remained in a consolidation phase at about $26,000.
- EOS and IOTA wavered while Pepe plunged to a multi-month low.
Cryptocurrency prices remained under pressure this week as a somber mood remained in the industry. Bitcoin remained slightly above $26,000 while coins like Litecoin, EOS, and IOTA continued retreating. This sell-off could continue after the Fed Chair warned that rates will likely remain higher for a while. So, let us look at some of the top coins to watch during the weekend.
EOS price prediction
EOS is a blockchain network that emerged from Block.one, the company that launched the biggest Initial Coin Offering (ICO) on record. Over the years, EOS has struggled to gain traction, with activity in the network remaining at historic lows.
Turning to the 4H chart, we see that EOS price plunged from a high of $0.8341 in June to a low of $0.5218 last week. It has now bounced back and is trading at $0.5818. This price action is similar to that of Bitcoin.
EOS has moved slightly below the 50-day and 25-day exponential moving averages while the Average True Range (ATR) has retreated to the lowest point since August 15th. This is an important indicator that measures volatility in the market.
Therefore, there is a likelihood that EOS price will remain in this range during the weekend and then have a breakdown to $0.5218. This price is about 10% below the current level.
Read more: How to buy EOS.
IOTA price prediction
IOTA is another player in the crypto in industry. Like EOS, IOTA has struggled to gain traction even after the recent Shimmer EVM launch. On the 4H chart, we see that the price has similarities with EOS. Its price dropped from $0.20 in June to a low of $0.1336 on Friday.
Therefore, IOTA price has dropped below the 25-period and 50-period moving averages. The Average True Range (ATR) has dropped to 0.0020, the lowest point on August 14th. Therefore, the forecast for IOTA is similar to that of EOS in that it will remain in the current range and then have a bearish breakout.
Read more: How to buy IOTA.
Pepe price forecast
Pepe was one of the most active cryptocurrencies in the market as the token plunged. The token plunged to a low of $0.000001, the lowest level in months. It has plunged by more than 52% from the highest level in June.
Pepe has dropped below the important support level at $0.000001, the lowest point on August 7th. It has moved below all moving averages. Also, it has pulled back slightly above the lowest point on June 15 while the Relative Strength Index (RSI) has moved to the oversold level.
Therefore, Pepe crypto price will likely continue falling in the coming days as the momentum wanes.
