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Cryptocurrency prices crawled back as investors bought the dip.
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Band Protocol rose sharply as DeFi volume bounced back.
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Litecoin rallied as its hash rate and mining difficulty rose.
Cryptocurrency prices staged a slow recovery this week as investors bought the dip following the relatively encouraging statement by Jerome Powell. Bitcoin crossed the important psychological level of $17,000 for the first time in weeks. Similarly, Ethereum, XRP, and SOL rose by over 5%. Here are the top crypto price predictions for the weekend.
Band Protocol | BRISE
Band Protocol was one of the best-performing cryptocurrencies this week. The coin jumped to a high of $2.78, which was about 77% above the lowest level this week. For starters, Band Protocol is an oracle network that makes it possible for developers to link off-chain data to the on-chain ecosystem. It is one of the biggest competitors to Chainlink.
The hourly chart shows that the BAND price rose to a high of $2.79 this week. It then pulled back and crossed the important support level at $2.30, which was the highest point on November 16. It remains slightly above the 25-day and 50-day moving averages and the ascending trendline shown in orange.
The Relative Strength Index has retreated below the overbought level of 70. Therefore, the coin will likely resume continue the bearish trend since it has formed an inverted hammer pattern. If this happens, it will likely retest the important support at $1.75. A move above the resistance point at $2.30 will invalidate the bearish view.
Litecoin | LTC
Litecoin has been one of the best winners of the ongoing crypto sell-off. After plunging to a low of $47.85 in November, it rebounded to a high of $83. This recovery happened as investors reacted to the rising mining difficulty and hashrate. It was also driven by the increasing interest in digital coins.
On the 4H chart, we see that the coin went parabolic in November. As a result, it has remained above all moving averages. At the same time, it has formed what looks like a double-top pattern whose neckline is at $70.
The coin’s Relative Strength Index (RSI) has formed a bearish divergence pattern. Therefore, the coin will likely have a bearish breakout, with the key support being at $60.
Bitgert | BRISE
Bitgert is an Ethereum rival known for extremely high speed and low gas fees. It is a relatively young platform on the BNB Smart Chain. After going parabolic earlier this year, BRISE price has plunged to the lowest level in months recently. Its total value locked has plunged from over $10 million to about $5 million.
On the hourly chart, it has moved slightly above the 25-day moving average while the Relative Strength Index has moved slightly above the neutral point at 50. It has also formed a small head and shoulders pattern. Therefore, the coin will likely have a bearish breakout as sellers target the key support at $0.00000030.
