- There was muted price action among most cryptocurrencies this week.
- Bitcoin price remained in a tight range and moved slightly below $30k.
- This technical analysis looks at EOS, Kaspa, Solana, and Zilliqa.
Cryptocurrency prices had a mixed performance this week as investors embraced a wait-and-see attitude. While Bitcoin price broke below the support at $30,000, some altcoins like Chainlink, Maker (MKR), and Stellar Lumens (XLM) did well.
Chainlink rose after unveiling the Cross-Chain Interoperability Protocol (CCIP) while MakerDAO introduced some price cuts. Stellar Lumens price did well as open interest surged after Ripple Labs partial victory. This article will look at some key coins to watch during the weekend: EOS, Solana (SOL), Zilliqa, and Kaspa.
EOS price prediction
EOS had a relatively lonely week as its price remained in a consolidation phase. The token was trading at $0.7826 on Friday, where it has been in the past few days. This price is a few points above last month’s low of $0.60. It is also slightly below the important resistance level at $0.8321, the upper side of the inverted cup and handle pattern.
Meanwhile, the MACD has moved to the 25-day and 50-day moving averages while the MACD and the Relative Strength Index (RSI) have drifted upwards. These oscillators have formed a bullish divergence pattern.
Therefore, the outlook of this token is neutral for now. The inverted C&H and the rising wedge patterns are bearish, meaning that the coin could have a bearish breakout. If this happens, the next level to watch will be at $0.60. A move above the resistance point at $0.832 will signal that there are more buyers.
Read more: How to buy EOS.
Solana price prediction
Solana’s SOL coin had a difficult week. After soaring to a high of $32.33 after the SEC vs Ripple ruling, the coin erased most of those gains. It is now trading at $25.56 , which is a few points below $26.22 (April 17 high). Solana remains slightly above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved below the overbought level.
Therefore, the outlook for Solana is bearish, with the next level to watch being at $22.09, the highest point on June 4th. The alternative situation is where the price moves above the important resistance at $26.22 and attracts buyers. If this happens, it will likely jump to $30.
Kaspa price prediction
Kaspa had a relatively strong week as the momentum rose. It jumped to a high of $0.035, the highest level since April. At its peak, Kaspa was up by 213% above the lowest level in May. It has now pulled back slightly but it remains above the 25-day and 50-day moving averages. Further, the Relative Strength Index (RSI) has pointed downwards.
Therefore, Kaspa price will likely have a bullish breakout in the coming days. This view will be confirmed if the price moves above the key resistance level at $0.035.
Zilliqa price forecast
Zilliqa price has moved sideways in the past few days. It was trading at $0.021 where it has been this week. The coin is consolidating at the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved to the neutral point.
ZIL has formed a triangle pattern that is shown in black. Therefore, the outlook for the coin is bearish, with the next level to watch being at $0.01950.
