Cryptocurrency prices dived sharply this week partly because of Bitcoin’s congestion.
KAVA, a DeFi-yielding protocol, was one of the best performing tokens.
Cryptocurrency prices had a tough week as concerns about the industry continued. Bitcoin dropped below $27,000 while the total market cap of all digital currencies crashed to $1.10 trillion. Further, meme coins like Pepe, Milady Meme Coin, Mrs Pepe, and Pepe AI have also plunged in the past few days. This crypto price prediction will look at Kava, Render Token, ad Cardano.
Kava price prediction
Kava price has been one of the best-performing cryptocurrencies this week. It jumped to a high of $0.9353, the highest point since April 19th. On the 4H chart, it has moved above the 38.2% retracement level.
Kava has also jumped above the 25-period and 50-period exponential moving averages (EMA) while the Relative Strength Index (RSI) and the MACD have risen sharply.
Therefore, the outlook for the Kava token is bullish, with the next key resistance level to watch will be at $1. This view will be confirmed if it moves above the key resistance point at $0.96, the highest point in April. The stop-loss for this trade will be at $0.84, the lowest point on Friday.
How to buy Kava
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
WazirX is India’s largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.
Render Token price prediction
Render Token price jumped sharply in April as investors cheered the vote to migrate it to Solana. This month, however, the token has pulled back and fallen by 34% from its highest point level. Render has moved to the 50% retracement level and dropped below the 25-day and 50-day exponential moving averages.
RNDR also retested the key support level at $1.6100, the lowest point on April 21st. Therefore, while the token has bounced back modestly in the past few days, I suspect that the bearish trend will resume as sellers target the key support at $1.400.
How to buy RNDR
Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.
The Gemini mobile app is the safe, trusted way to build your crypto portfolio. Buying, storing, and selling crypto has never been easier.
Cardano price prediction
Cardano, like other major cryptocurrencies, has been in a steep bearish trend in the past few weeks. The sell-off intensified on April 20th after the coin moved below the lower side of the ascending channel shown in red. It has also moved below the 25-period and 50-period exponential moving averages and the support at $0.3786, the lowest point on April 25.
Therefore, I suspect that ADA price is about to rebound and retest the resistance at $0.3786 and then resume the bearish trend. More downside will be confirmed if the price moves below the support at $0.3500, the lowest point this week.
How to buy Cardano
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in.
It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest.
eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
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