Crypto prices were largely positive on Wednesday, reflecting the ongoing risk-on sentiment in the financial market. Bitcoin remained above $110,000, while most altcoins like Cardano and Solana were positive. This article provides a forecast on top crypto coins, like Tellor (TRB), Kaito (KAITO), and Hedera Hashgraph (HBAR).
Tellor Trbutes (TRB) price analysis
Tellor is a blockchain network that provides secure and censorship-resistant data creation and distribution. The daily chart shows that the Tellor price bottomed at $19.40 in April as most cryptocurrencies fell.
It has now bounced back by 160% and is hovering at its highest point since January 29 this year. It recently rose above the key resistance level at $38.42, the highest swing on May 12.
Tellor Tributes token has jumped above the 50-day and 100-day Weighted Moving Averages (WMA), while the Relative Strength Index (RSI) has drifted upwards. It has also formed a small inverse head and shoulders pattern, a popular bullish continuation sign.
TRB price has moved to the 23.6% Fibonacci Retracement level. Therefore, the most likely scenario is where it retreats and retests the support at $38.42 and then resumes the uptrend. Moving back to that support is known as a break-and-retest pattern, and is one of the most bullish continuation patterns.
Kaito price forecast
Kaito is a top crypto project in the data analytics and artificial intelligence (AI) space. It runs a platform that provides Bloomberg-like solutions for the crypto space.
Users pay a whopping $833 a month or $10,000 a year to access in-depth data on most cryptocurrencies. Dune Analytics data shows that the Kaito ecosystem is doing well, with the staking inflows, revenues, and all metrics being in an uptrend.
The eight-hour chart shows that the Kaito price bottomed at $0.6757 in April and then bounced back to the current $2.40. It has formed a bullish flag pattern, comprising of a vertical line and some consolidation.
Kaito price has also jumped above the 50-period moving average. Most notably, it is slowly forming a cup-and-handle pattern whose upper side is at $2.9240. Therefore, the coin will likely have a bullish breakout soon as bulls target the upper side of the cup, which is about 27% above the current level. A drop below the 50-day WMA of $2 will invalidate the bullish outlook.
HBAR price prediction
Hedera Hashgraph price has remained under pressure in the past few weeks, even as the stablecoin supply on its platform jumped to a record high. Soaring stablecoins is a sign that users are interacting with a blockchain network. It has also expanded to the real-world asset tokenization industry.
The HBAR price was trading at $0.1860 on Wednesday, down from this month’s high of $0.2277. It is hovering at the 50-day Weighted Moving Average (WMA).
The coin is forming a broadening wedge or megaphone pattern, which often results in a strong bullish breakout. It has moved in this pattern’s lower side.
Therefore, Hedera Hashgraph price will likely have a bullish breakout, with the next point to watch being at $0.2277, up by 21% above the current level. A move above that level will point to more gains, potentially to the 23.6% retracement point at $0.3200, up by 70% above the current level.
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