- Cryptocurrencies were relatively resilient even as American stocks plunged.
- Shiba Inu held steady ahead of the upcoming Shibarium launch.
- Tron and KAVA tokens remained under intense pressure.
Cryptocurrencies continued to consolidate this week as the US dollar index (DXY) surged to the highest level in more than 2 weeks. Bitcoin price remained at $29,200 this week even as the Nasdaq 100 and S&P 500 indices plunged. This price action after Fitch downgraded the American credit rating. In this article, we will look at some of the top coins to watch during the weekend like Kava, Shiba Inu, and Tron.
Tron price prediction
Tron jumped to a high of $0.094 in July as demand for the coin jumped. This momentum faded recently and dropped to a low of $0.076, meaning it has dropped by over 17%. The coin has moved below the upper side of the ascending channel that is shown in blue.
Tron has retreated below the important support level at $0.085. Also, it has dropped below the 50-day and 25-day moving averages, signaling that bears are in control. At the same time, the MACD indicator has moved to the neutral level.
The Relative Strength Index (RSI) has moved below the neutral point at 50. Therefore, the coin will likely continue falling as sellers target the key support at $0.070, the lower side of the ascending channel. This price is about 10% below the current level.
Shiba Inu price prediction
SHIB price plunged to a low of $0.0000060 on June 10th. It then made a strong comeback as investors wait for the upcoming Shibarium launch. Despite the rally, the coin underperformed Doge Shibaswap.
The token jumped above the key resistance point at $0.0000078, the lowest level in December 2022. Shiba Inu price has crossed the 25-day and 50-day moving averages. Additionally, the MACD has jumped above the neutral point of zero while the Relative Strength Index (RSI) has risen from 18 on June 12 to almost 70.
Therefore, Shiba Inu price will likely continue rising as buyers target the key resistance point at $0.000001.
Kava price
Kava crypto price has been in a strong bearish trend as demand for the token dropped. The token has dropped below the descending trendline shown in black. This line connects the highest point since July.
Kava price has moved below the 25-period and 50-period moving averages on the four-hour chart. The MACD moved below the neutral point while the RSI has drifted downwards. It has also dropped below the key support level at $0.8395, the lowest point on July 25. Therefore, the token will likely continue falling as sellers target the key support at $0.800.
