Cryptocurrency prices drifted upwards this week as investors reacted to the risk-on sentiment in the market. That view is supported by the performance of US equities like the Dow Jones, Nasdaq 100, and S&P 500. The US dollar index (DXY) has also pulled back as geopolitical risks have faded.
Bitcoin price has remained above $66,000 while altcoins like Pepe, Algorand, and Hedera Hashgraph (HBAR) have continued rising. BitBot ($BITBOT), on the other hand, has continued thriving as it raised over $2.8 million.
Pepe price forecast
The price of Pepe token bottomed at $0.0000039 earlier this month and then bounced back to a high of $0.0000080, its highest point since April 1st. It has soared by more than 100% from its lowest point this month.
The token has remained above the 50-day and 100-day Exponential Moving Averages (EMA). It has also risen in the past seven straight days, the longest winning streak in months. Pepe has also jumped above the strong pivot reverse point of the Murrey Math Lines.
Meanwhile, the Relative Strength Index (RSI) and the Stochastic Oscillator have all pointed upwards, meaning that it has momentum. The Average Directional Index (ADX) has remained above 20. Therefore, the outlook for the token is bullish, with the next point to watch being at $0.00010, which is about 26% above the current level.
Algorand price prediction
The Algorand price bottomed at $0.1490 this month and then bounced back as the crypto rally resumed. It has rebounded to $0.2616, its highest swing since April 1st of this year. The token has now pulled back and retreated to the key point at $0.2400. It has remained above the 50-day and 100-day moving averages and the Ichimoku cloud indicator.
The Relative Strength Index (RSI) index has also pointed upwards. Therefore, the pair will likely now move to a consolidation phase in the coming days and then resume the bull run. If this happens, the token will likely rise to the key resistance point at $0.30, which is about 30% above the current level.
BitBot analysis
Meanwhile, BitBot, an upcoming cryptocurrency, is doing remarkably well as demand for the token rises ahead of the eventual token listing. The developers have raised over $2.8 million from investors in its current stage.
For starters, BitBot is a project that is aiming to transform the financial trading industry by creating a decentralized trading bot. The bot will be distributed using Telegram, an application used by more than 900 million users around the world.
The network will have features like revenue sharing, exclusive access to $BITBOT holders, and governance.
Therefore, the BitBot token is doing well as investors cheer its potential growth in the artificial intelligence (AI) and the financial services industry. You can buy the BitBot token here.