The crypto market started the week well, with Bitcoin and most altcoins being in the green. This surge happened amid optimism that the US government shutdown would end soon. This article explores forecasts for some of the top gainers in the crypto market like Decred (DCR), Zcash (ZEC), Starknet (STRK), and World Liberty Financial (WLFI).
Decred price forecast
Decred price surged in the past few days, making it one of the best-performing cryptocurrencies. It was trading at $36 today, up by 65% from its lowest level on Saturday.
Decred, which was built by the same team that built Monero, has surged because of the ongoing demand for privacy tokens. Its main feature is that it uses a hybrid proof-of-stake and proof-of-work.
The daily timeframe chart shows that the DCR price remained in a consolidation phase for months as its volume remained low. This consolidation ended in October when the token went parabolic, reaching a high of $70, up by 342% from its lowest level in October.
Decred price then plunged to $22 on November 8 and has now rebounded to the current $37. It has moved above the 50-day and 100-day Exponential Moving Averages (EMA), a sign that bulls remain in control.
Decred remains above the Ichimoku cloud and the Supertrend indicators. Therefore, the most likely scenario is where it continues to ride the Zcash wave and hit the important resistance level at $50. A move below the support at $24 will invalidate the bullish outlook.
Zcash price prediction
Zcash price has been the best-performing cryptocurrency this year, rising from $30 in August to a high of $740. This surge was driven by the recent launch of a fund tracking the token, which has now accumulated over $150 million in assets.
The rally then accelerated after bullish statements by some notable analysts and investors, including Arthur Hayes, who predicted that it would surge to $1000 over time.
In a recent statement, Nansen analysts explained the surge, noting the it was like an encrypted Bitcoin because of its advanced privacy features.
Zcash price has moved above all moving averages, and is in an extended markup phase of the Wyckoff Theory. This phase is characterized by the Fear of Missing Out (FOMO) and increased buying the dip.
The coin has now moved into the overbought level as the Relative Strength Index and the Stochastic Oscillator have continued rising. Therefore, while the token may keep rising, there is an elevated risk that it may pull back in the near term as investors book profits.
Starknet price prediction
Starknet is a top player in the decentralized finance (DeFi) industry, where it offers a platform for monetizing Bitcoin. It allows Bitcoin holders to generate a return, pay, and borrow using their Bitcoin. It has over $335 million in total value locked.
The token has jumped despite the unlock that will increase the supply by 163 million tokens valued at $28 million.
Starknet price rose as it remains in a tight range between the support and resistance levels at $0.1040 and $0.1965. There are signs that it is in the accumulation phase of the Wyckoff Theory, which may trigger a strong bullish breakout, potentially to the psychological level at $0.50.
WLFI price forecast
The World Liberty Financial token has been in a strong uptrend in the past few days, moving from a low of $0.072 on October 11 to a high of $0.1697 today. It has jumped to the highest level since October 10.
The token has moved above the important resistance level at $0.1560, its highest level on October 29. It also moved between the 38.2% and 50% Fibonacci Retracement levels.
WLFI price has moved above the 50-period and 100-period Exponential Moving Averages. It will likely continue rising as bulls target the key resistance level at $0.200.
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