- Cryptocurrency prices surged after the collapse of FRC stock.
- Bitcoin jumped to $29,000, which pushed other altcoins higher.
Casper, Conflux, and Injective prices surged on Wednesday as cryptocurrencies surged. Injective jumped to a high of $8.78 while Conflux and Casper soared to $0.34 and $0.055. There are two main reasons why these tokens jumped.
First, as I wrote here, there are concerns about the banking sector as First Republic Bank stares at liquidation. The FRC stock price has plunged to about $5, meaning that it has dropped by over 90% in the past few weeks. And there is an elevated risk that it will have a bank run, which will lead to its collapse,.
Second, these coins jumped sharply as the biggest event in the crypto industry started. The Consensus event, hosted by Coindesk, is taking place in Texas. It has many leading players in the industry, including senior executives at Casper, Conflux Network, and Injective Protocol.
Casper price prediction
The 4H chart shows that the CSPR token price has been in a strong bullish trend in the past few days. In this period, the token has jumped by almost 70% from the lowest level in March of this year. It is now approaching the important resistance point at $0.060, the highest point this month. Casper has also jumped above the 25-day and 50-day moving averages.
Therefore, there is a possibility that the coin will move to this resistance, which is about 10% above the current level. Casper will then jump to the next resistance point at $0.070 if it moves above that level. A move below the key support level at $0.053 will invalidate the bullish view.
Injective price prediction
Injective price has been one of the best-performing cryptocurrencies, as I wrote here. It has soared by over 252% from the lowest level in March. This rally happened as the DeFi protocol took market share and as its hackathon continues. The token has jumped above the key support level at $6.,42, the lowest level this week. It has jumped above the 25-day and 50-day moving averages.
Therefore, there is a possibility that the INJ price will continue rising a buyers target the key resistance point at $10. This price is ~15% above the current level.
Conflux price prediction
Conflux’s CFX token price has also been one of the best-performing cryptocurrencies this year. It rose after the recent embrace by leading Chinese companies like China Telecom. On the 4H chart, the coin jumped to $0.35, the highest point on April 19. Conflux has also jumped above all moving averages.
Therefore, like Injective and Casper, the outlook of Conflux is bullish, with the next level to watch being at $0.48, the highest point this year. This price is about 45% above the current level.
