- Render Token price surged after the community voted for Solana migration.
- Band Protocol and TomoChain were the biggest gainers.
- Bitcoin and other altcoins also continued surging.
Band Protocol’s (BAND) and TomoChain’s (TOMO) prices were among the best-performing cryptocurrencies on Wednesday. BAND jumped to a high of $1.97, the highest point since April 19 while TOMO soared by over 30% to $0.90. Render token soared by more 32% to $2.35.
These cryptocurrencies soared as the Consensus Conference kicked of in Texas. This is a major event that brings together policymakers and developers in the crypto industry. It is often seen as the Davos of the cryptocurrency industry.
The other catalyst for the comeback was the latest performance of Bitcoin prices. After falling in the past few days, Bitcoin price jumped to over $29,000. In mot periods, Bitcoin is usually the main catalyst for the crypto industry. This rally happened as the banking crisis returned, with the FRC stock price plunging by over 27% on Wednesday. It had slumped by more than 45% on Tuesday.
Bnad Protocol price prediction
Band Protocol is an important project that provides oracle solutions to developers in the industry. It competes with the likes of Chainlink and WinkLink. On the 4H chart, we see that the BAND price soared to a high of $1.97. As it rose, the coin jumped above all moving averages while oscillators continued rising.
Therefore, if the BAND price continues rising, the next key level to watch will be at $2.20, the highest point last week. This price is about 15% above the current level. On the flip side, a drop below the support at $1.8 will invalidate the bullish view.
Read more: How to invest in Chainlink.
TOMO price prediction
TOMO has been in a strong bullish trend in the past few months. It jumped to a high of $0.9465, the highest point since August last year. In all, it has jumped by over 265% from the lowest level this year.
The token has jumped above all moving averages. It also recently jumped above the key resistance point at $0.880, the previous highest point this year. Oscillators have also continued rising. Therefore, the outlook of the token is still bullish, with the next key target to watch being at $1.
Render Token price prediction
The chart shows that Render Token has been one of the best-performing tokens recently. It jumped on Wednesday after the community passed two important votes. The first vote allowed the Render Foundation to move the network to Solana while the other one provided resources to the foundation.
On the 4H chart, the token managed to move above all moving averages. It also managed to cross the important resistance point at $2.15, the highest point on April 20th. The token also invalidated the double-top pattern. Therefore, the token will likely continue rising as buyers target the key point at $2.50. This is in line with my previous RNDR price forecast.
