- It was a sea of red in the crypto industry as Bitcoin lost a key support.
- Sei price plunged by over 80% from its weekly high as I predicted.
- The crypto sell-off could gain steam as bond yields surge.
A sea of red engulfed the cryptocurrency industry as investors watched the bond market and the economic crisis in China. Bitcoin price moved from its consolidation level and retreated to $25,250, in line with my recent prediction. Other coins like Ethereum, Cardano, and EOS joined the sell-off. This article will provide predictions of some popular coins like Jasmy, Conflux, and Sei.
Jasmy Coin price prediction
Jasmy, popularly known as Japan’s Bitcoin, came under intense pressure in the overnight session. It plunged to a low of $0.0030 as the crypto sell-off intensified. On the daily chart, the pair slipped below the important support level at $0.0030, the lowest point on June 10th.
The price has moved below the descending trendline that connects the highest swings since May this year. Also, it has moved below the 50-day and 100-day moving averages. It also declined below the crucial resistance at $0.0043, the lowest level on May 27th. This was an important level since it was the neckline of the double-top pattern at $0.0080.
Therefore, the outlook for Jasmy is quite neutral for now since it has formed a double-bottom pattern. More downside will be confirmed if it closes below this week’s low at $0.0030. A break below that will see the coin drop to $0.0025. On the flip side, a move t the resistance at $0.0036 cannot be ruled out.
Conflux (CFX) price prediction
Conflux was one of the worst-performing cryptocurrencies as its price plunged by more than 18% in the overnight session. It has dropped in the past four consecutive days and is now hovering at the lowest level since February this year. CFX has dropped below the 25-day and 50-day moving averages.
Most importantly, bears managed to flip the important support at $0.1640 into a new resistance. This was a notable level since it was the lowest levels since June this year. Therefore, Conflux will likely have a dead cat bounce on Friday or during the weekend as buyers target the resistance at $0.1540.
Sei price forecast
Sei is a new cryptocurrency that launched with a bang this week. On its first day, the token surged to almost $1 as the hype continued. It then plunged by more than 80% to $0.1540. This decline, which I predicted here and here, happened because of the broader crypto sell-off.
Most importantly, it happened as many insiders dumped the token after the initial launch. This is what happens every time a new coin launches in the market. On the 30-minute chart, Sei has remained constantly below the support at $0.20 and the 25-period moving average.
Therefore, the outlook for Sei is currently bearish, with the next levels to watch will be $0.10, which is about 30% below the current level.
