- Cryptocurrency prices held steady this week as focus shifted to the Fed decision.
- STPT soared to its highest point since September while Optimism jumped to September high.
Global assets did well this week as investors reflected on the actions by the Federal Reserve, Bank of England (BoE), and the European Central Bank (ECB). Bitcoin price continued consolidating below the $24,000 level while small tokens like Taboo Token, dYdX, and Optimism surged. In this article, I will deliver the price predictions for STPT, Fantom (FTM), and Optimism (OP).
STPT price prediction
Standardized Tokenization Protocol’s STPT price had a spectacular week as the token soared to a high of $0.5517, the highest level since September 13. The token has soared by more than 127% from the lowest level in December 2022.
On the daily chart, we see that the STPT crypto price has soared above the 23.6% Fibonacci Retracement level. The 50-day and 100-day moving averages are forming a bullish crossover pattern, which is a bullish sign.
It has moved above the important resistance point at $0.047, the 23.6% retracement point and the highest level on November 23. Therefore, there is a likelihood that the STPT price will continue rising, with the next reference level being at $0.0745, which is about the 50% retracement point. However, a drop below the support at $0.0042 will invalidate the bullish view.
Fantom crypto price prediction
In my recent article on FTM, I cautioned that it was forming a worrying pattern. On the daily chart, we see that the Fantom crypto price has been in a strong bullish trend in the past few months. It has remained one of the best coins in the industry. The token has managed to move above the important resistance point at $0.3236 (November 5 high).
Fantom price has also jumped above the important point at $0.4211 (August 13 high). The coin has also moved above the 50-day moving average while the Relative Strength Index (RSI) have moved to the overbought level.
Therefore, in trend-following, the outlook of the FTM price is bullish, with the next reference level being at $0.80. However, a short pullback cannot be ruled out.
Optimism OP price prediction
Optimism is a leading layer-2 blockchain that helps to speed dApps. The OP crypto price has also moved above important resistance levels. The most recent increase was $2.317, the highest point on August 4. It also jumped above the important resistance point at $2.55 (January 25 high).
Optimism price is also being supported by the short and medium-term moving averages. However, a closer look at volume flows shows that it has continued falling. Therefore, there is a likelihood that the coin will start pulling back in the coming days. If this happens, the key support level to watch will be at $2.50.
