Cryptocurrency prices bounced back on Friday morning as some investors bought the dip and as a risk-on sentiment prevailed in the market. The US dollar index (DXY) has tumbled to $105 while American stocks have rebounded.
The Dow Jones and Nasdaq 100 indices have all soared in the past three days as investors reacted to this week’s Federal Reserve decision. In it, the bank decided to leave interest rates unchanged between 5.25% and 5.50%. The committee hinted that it will not hike interest rates this year.
Arweave price forecast
Arweave, the popular storage blockchain, has done better than other cryptocurrencies. That happened as the network continued growing. For example, it was recently embraced by HackMD, a network for storing documents permanently.
Arweave also had over 735 million transactions in April, much higher than less than 50 million in the past few months.
It was trading at $34.33 on Friday, about 60% above the lowest point in April. On the daily chart, the token has risen above the 50-day and 100-day Exponential Moving Averages (EMA).
At the same time, the Relative Strength Index (RSI) has moved slightly above the neutral point of 50. The token has moved to the weak, stop & reverse level of the Murrey Math Lines.
Therefore, the outlook for the Arweave token is moderately bullish, with the next point to watch being $37.88, its highest point on April 25th. A break above that level will point to more gains and the possibility of it moving to the YTD high of $47.57.
Filecoin price prediction
The price of Filecoin has been in a strong bearish trend in the past few weeks. It peaked at $12.28 in March to about $5.96 amid rising concerns about its ecosystem. For example, Filecoin’s DeFi ecosystem has a total value locked (TVL) of over $323 million from the year-to-date high of over $630 million.
Filecoin price has crashed below the crucial support at $7.68, its lowest swing on March 20th. Worse, the 50-day and 100-day Exponential Moving Averages (EMA) have made a bearish crossover, which is a negative sign. The Relative Strength Index (RSI) has formed a bearish channel.
On the positive sign, the token has formed a double-bottom pattern at $5.20. In most cases, this pattern is one of the most positive signs in the market. As such, we could see a reversal in the coming weeks as buyers target its neckline at $6.75.
A break below the crucial support level at $5.20 will point to more downside, with the next level to watch being at $4.60, its lowest swing in January.
Toncoin price prediction
Toncoin price surged to a high of $7.67 in March and has pulled back to a low of $4.60 on Wednesday. The token has now formed a morning star pattern, which is one of the most popular reversal signs in the market.
This performance happened as the network continued doing well. Toncoin’s total value locked has jumped to over $439 million. Tonstakers, a liquid staking platform, has over $187 million in assets. Similarly, STON.fi, Bemo, and DeDust have continued gaining more assets.
Toncoin has remained above the 50-day and 100-day EMA indicators, which is a positive sign. Also, the Relative Strength Index (RSI) has pointed upward, signaling that investors are buying the dip.
TON has also risen slightly above the Ichimoku cloud indicator and is nearing the Woodie pivot point tool. Therefore, the outlook for the Toncoin token is bullish, with the initial target to watch being the pivot point at $6.
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