- Cryptocurrency prices surged to a multi-month high.
- Bitcoin price surged above $30,000 for the first time since June.
- We look at what to expect from IOTA, Monero, and OKB.
This was an eventful week for the financial market. On Wednesday, the US published encouraging consumer price index (CPI) data that revealed that inflation dropped to 5.0%. On the same day, minutes of the Federal Reserve showed that the committee members were concerned about a recession in the US. As a result, there are signs that the bank will start pivoting its interest rates later this year, which explains why the US dollar index (DXY) has plunged.
Meanwhile, it was a good week for cryptocurrencies as Bitcoin price jumped to over $30,000 for the first time in months. Ethereum price soared above $2,000 after the Shapella upgrade. Tron price dropped after Binace US announced that it would delist it. In this crypto price prediction, we will look at what to expect in key tokens like IOTA, Monero (XMR), and OKB.
IOTA price prediction
IOTA price was left behind by the crypto rally this week. The coin remained in a tight range even as most altcoins surged. It was trading at $0.2200 on Friday, which was lower than this month’s high of $0.2415. The main catalyst for the coin is the upcoming launch of EVM in Shimer’s ecosystem.
On the 4H chart, the coin has formed what looks like a head and shoulders pattern. This is usually a bearish signal. It has also moved below the 25-day and 50-day exponential moving averages and the 50% Fibonacci Retracement level.
Therefore, the coin will likely have a bearish breakout as sellers target the next key support at $0.2077, the lowest point on April 10.
Read more: How to buy IOTA.
Monero price prediction
Monero price has been in a bullish trend this year as investors move to proof-of-work (PoW) coins towards the Shapella upgrade. XMR is often seen as a better investment than Bitcoin because of its strong privacy. Monero has jumped by more than 21% from the lowest level this year.
On the 4H chart, we see that Monero remains above the 50-day moving average. Also, it has formed an inverse head and shoulders pattern. In price action analysis, this chart pattern is usually a bullish sign. Therefore, there is a likelihood that the coin will have a bullish breakout in the coming weeks as bulls target the key resistance at $200.
Read more: How to buy Monero.
OKB price prediction
The 4H chart shows that OKB crypto price has been in a bullish breakout in the past few days. This rally happened as investors rushed to cryptocurrencies as BTC jumped. The coin has risen above the important resistance level at $44.16, the highest point in March. It has soared above the 50-period moving average while the MACD moved above the neutral level.
Therefore, there is a likelihood that OKB will continue rising, with the next reference level being at $52.1, the highest level on March 17.
