Crypto Price Prediction: Cardano, Conflux, Stacks
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Cryptocurrencies had a strong performance in one of the most volatile weeks.
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Bitcoin rose above $27,000 for the first time in months.
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Cardano, Stacks and Conflux were among the top performers.
Cryptocurrencies had a strong performance this week, even as turmoil in the banking sector continued. On Friday, Bitcoin the price jumped above $27,000 for the first time in months. This was a remarkable turnaround considering BTC was trading at $19,000 a week earlier. This article will provide predictions for some popular altcoins such as Cardano (ADA), Conflux (CFX) and Stacks (STX).
Cardano price prediction
Cardano price made a strong comeback on Friday after the developers announced a new P2P upgrade for the network. Furthermore, Cardano’s Total Value Locked (TVL) jumped to a record high in ADA terms, signaling that the network is gaining ground.
Cardano rose to a high of 0.348 on Friday, which was above the 25-day and 50-day moving averages. The MACD moved above the neutral point while the Relative Strength Index (RSI) moved near its overbought level.
On the hourly chart, Cardano is trading near the major S&R pivot point. Therefore, with Bitcoin leading cryptocurrencies, I suspect it will continue to rise as buyers target the next ultimate resistance at $0.366, which is about 8% above today’s level.
How to buy Cardano
eToro
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Public
Public is an investment platform that allows you to invest stocks, ETFs, crypto and alternative assets such as art and collectibles – all in one place.
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Conflux price prediction
The Conflux (CFX) price had one of the best performers this week. On-chain data showed that the network made progress after cooperation with China Telecom. The telecommunications giant will use the platform to build blockchain SIM cards. Conflux NFTs also do well.
On the hourly chart, the CFX price has formed a cup and handle pattern, which is usually a bullish sign. It is also supported by the short and long term moving averages. Like Cardano, the Relative Strength Index (RSI) and MACD have continued to rise. The Murrey Math Lines indicator shows that it is now at the weak S&R point.
Therefore, there is a likelihood that the Conflux price will also continue to rise as buyers target the breakout level at $0.4157.
How to buy Conflux
BKEX
BKEX is a centralized cryptocurrency exchange located in the British Virgin Islands. There are 254 coins and 415 trading pairs on the exchange.
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Stacks price prediction
Stacks has done well after the launch of Bitcoin Ordinals. This was an important development because Stacks is a layer 1 network that enables developers to build dapps that use Bitcoin. It is the only blockchain product that offers the service.
On the hourly chart, the STX price has risen and formed a cup and handle pattern. It has also moved to the stop pivot reverse point. Like Cardano and Stacks, it is supported by short- and medium-term moving averages and oscillators such as the Relative Strength Index (RSI) and MACD.
Therefore, stacks will likely continue to rise as buyers target the ultimate resistance point at $1.20. The stop-loss for this trade will be $0.990.
How to buy stacks
Okcoin
Okcoin is a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore and Japan. Okcoin’s mission is to help decentralize finance and level the financial playing field for everyone around the world. Serving 190+ countries with over 100K+ active traders and investors.
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Exchange zone
Swapzone is a crypto exchange aggregator that acts as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, secure user flow and crystal clear data for users to find the best exchange rates for the entire cryptocurrency market.
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