The crypto market was mixed on Tuesday as many altcoins jumped and Bitcoin remained under intense pressure. Bitcoin was stuck at $117,000, while the altcoin season index rose to 57. This article provides predictions for some of the top gainers in the cryptocurrency market, including Spark (SPK), Pudgy Penguins (PENGU), and Kaspa (KAS).
Pudgy Penguins (PENGU) price prediction
Pudgy Penguin’s PENGU token has been one of the best-performing coins of this altcoin season. This surge occurred as sales of its NFTs increased, hopes for exchange-traded funds (ETFs) rose, and traders waited for the upcoming launch of its skills-based game.
The daily chart shows that the PENGU price bottomed at $0.0035 earlier this year and has now jumped by 926% to $0.036. This surge has made it one of the best-performing cryptocurrencies today.
The gains accelerated after the PENGU price jumped above the key resistance level at $0.020, the highest point in May this year. Jumping above that level invalidated the highly bearish double-top pattern.
Therefore, the token will likely continue rising as bulls target the key resistance point at $0.05. A drop below the support at $0.030 will invalidate the bullish forecast.
Kaspa price analysis
The daily chart shows that the KAS price bottomed at $0.060 in July and then staged a strong comeback. It has jumped to a high of $0.12, which is up by over 84% from its lowest point this year.
The 12-hour chart shows that the token has moved above the descending trendline that connects the highest swings in December last year. Most notably, it is about to make a golden cross pattern as the 50-day and 200-day moving averages cross each other.
The Relative Strength Index (RSI) has moved to the extreme overbought level of 76. Also, the token is nearing the neckline of the double-bottom pattern at $0.059.
Therefore, the Kaspa price will likely keep rising as bulls target the key resistance at $0.1310, the neckline of this double-bottom pattern. A climb above that level will point to more gains to the psychological point at $0.15. A drop below the support at $0.10 will invalidate the bullish KASPA forecast.
Spark price technical analysis
The two-hour chart shows that the Spark price has staged a strong bull run in the past few weeks. This surge reached a high of $0.0729, up by over 80% from its lowest level this year.
The surge happened as the total value locked (TVL) jumped to a record high of over $8.15 billion. This surge occurred across other top platforms, including SparkLend and Spark Liquidity Layer.
Spark price jumped as the annualized fees in the network has jumped above $66 million. Therefore, the surge is also because of the view that it is significantly cheaper than other DEX tokens.
The most likely scenario is where the Spark price continues rising as bulls target the key resistance at $0.1 in the coming weeks.
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