Cryptocurrency prices had another strong week as the fear and greed index moved to the greed area of 75 and as Bitcoin reached a high of $52,000. This performance was because of increased ETF inflows, strong inflows, and the Fear of Missing Out (FOMO). Bitcoin’s performance led to a strong demand for altcoins. This article explores some of them like Zilliqa (ZIL)m Nervos Network (CKB)m and IOTA.
Zilliqa price forecast
Zilliqa is a pioneering blockchain network that introduced important technologies that have been embraced by other notable networks like Ethereum, Elrond, and Near Protocol. Its most important innovation was a process known as sharding, which improves a blockchain’s performance by slashing its blocks into smaller pieces known as shards.
The challenge for Zilliqa is that it has not gained a lot of traction among developers lately. As such, it has no major market share in industries like Decentralized Finance (DeFi), Non-Fungible Tokens (NFT), and gaming.
The daily chart shows that the ZIL token has rebounded in the past few days. It has risen from the February low of $0.018 to a high of $0.0225. The coin is still in a deep bear market since it is over 20% below its highest point this year.
It has also moved above the 25-day and 50-day moving average while its volume flow has not increased by much. Therefore, I suspect that Zilliqa price will continue rising, albeit gradually in the next few days. If this happens, the next price target to watch will be at $0.025, the highest swing on December 9th.
Nervos Network CKB price forecast
Many cryptocurrencies went parabolic this week but none was as successful as Nervos Network. Its CKB token surged to a high of $0.015 on Thursday, over 200% above its lowest point during the week. This surge happened because the developers launched a solution to boost Bitcoin’s usage. They believe that this service is more advanced than the other scaling platforms.
The CKB price crossed all-important resistance levels and moved much higher than all moving averages. This performance is known as the mark up phase of the Wyckoff Method approach and is characterized by high demand. Now, however, there are signs that it has moved into the distribution or shake-off phase. This means that the price will likely pull back to at least $0.01 in the coming days.
IOTA price prediction
Elsewhere, the IOTA token price continued rising as its correlation with Bitcoin accelerated. It has risen in the past five straight days and is hovering at its highest point since January 7th. The coin has moved above the key support level at $0.2490, a key resistance that was also the lowest level on December 23rd.
IOTA has risen above the 50-day moving average and formed an inverse head and shoulders pattern, a popular signal. Therefore, the outlook for the IOTA token price is bullish, with the next important target being at $0.30. The stop-loss for this prediction is at $0.2500.
Other notable crypto to trade
There are many other popular cryptocurrencies that you can trade in this bull run. Ethereum, the second-biggest token in the world is a good one because of the potential ETF filings. Franklin Templeton joined other companies like VanEck and Blackrock in applying for a spot Ethereum ETF this week.
Other popular cryptocurrencies to buy or trade are Solana, Jupiter, Bonk, Stacks, and Dymension. The problem with some of them is that they are not provided by most exchanges.
