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Solana price has formed a triple-top pattern and a head and shoulders.
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Theta Network has moved above the cup and handle pattern.
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Hooked Protocol’s HOOK has surged above its all-time high.
Cryptocurrency prices moved sideways this week as the US dollar index continued its downward trend. Bitcoin rose above $23,000 for the first time in months while the total market cap of all cryptocurrencies rose to over $1 trillion. In this report, we will provide predictions for some of the top cryptocurrencies, including Solana, Theta Network, and Hooked Protocol.
Solana price prediction
Solana (SOL/USD) price has made a spectacular comeback as investors raise their bets that the blockchain will recover amid FTX woes. It has also been helped by the surge of NFTs traded in the ecosystem, as we wrote here. As such, Solana price soared to a high of $26.53, the highest point since FX imploded.
However, the 4H chart is sending a warning about the coin. A closer look shows that it has formed what looks like a triple-top pattern whose neckline is at $20.48. This pattern also has a close resemblance to a head and shoulders pattern. The two patterns are some of the most bearish patterns in the industry.
Therefore, there is a likelihood that Solana will have a bearish breakout in the coming days as sellers target the neckline of the two patterns at $20. This price is about 15% below the current level. It is also slightly below the 23.6% Fibonacci Retracement level.
How to buy Solana
Kraken
Kraken is a San Francisco-based cryptocurrency exchange that allows users to trade various digital currencies. With a strong emphasis on security, Kraken employs cold storage for most funds and offers two-factor authentication (2FA). Its user-friendly interface provides real-time charts and order books, making it suitable for both beginners and experienced traders. Kraken also complies with regulatory requirements in the jurisdictions where it operates.
Uphold
Uphold is a global digital money platform that offers financial services. It deals with 250+ currencies (both traditional and crypto) and commodities, facilitating more than US$4 billion in transactions. Uphold’s vision is to create a future where everyone has access to safe, transparent, fair, and affordable financial services
Theta Network price prediction
Theta Network and TFUEL prices jumped sharply as investors cheered the recent launch of Theta EdgeStore. EdgeStore is a new component of the Theta Edge Node software that is run by thousands of people around the world. Once fully launched, the platform will make it possible for people to store their documents and files in a decentralized manner. Some of the files that will be stored in it are NFTs, video, software packages, and metaverse projects among others.
Turning to the 4H chart, we see that the THETA price has been in a strong bullish trend in the past few weeks. It managed to cross the important resistance level at $0.9821, the highest level on November 27. This was an important price since it was the upper side of the cup and handle pattern that formed. Therefore, by measuring the distance of the upper and lower sides of the cup, we can show that Theta price has more upside.
THETA/USD chart by TradingView
How to buy Theta Network
Bitvavo
The Bitvavo platform was launched in 2018, with the goal to bridge the gap between traditional currencies and digital assets. Bitvavo is making digital assets accessible to everyone, by offering transparent fees, a wide range of assets and an easy to use platform.
Coingate
CoinGate is a Lithuanian-based fintech company founded in 2014. The payment gateway offers cryptocurrency payment processing services for businesses of any sizes. Permission-based account management, fiat payouts to the bank account and brand new email billing feature are just a few reasons why CoinGate has become a go-to payment processor for many.
Hooked Protocol price prediction
HOOK price has been in a spectacular rally in the past few weeks because of the remarkable popularity of Wild Cash. It rose to an all-time high this week, bringing the year-to-date gains to over 200%. The coin has moved above all moving averages and the previous all-time high of $3.40. Therefore, using the trend-following approach, the coin will likely continue rising as buyers target the important resistance point at $4.
How to buy Hooked Protocol