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Cryptocurrency prices dived sharply this week partly because of Bitcoin’s congestion.
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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
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
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.
