The crypto market held well in the past few days, with Bitcoin price hovering at its all-time high. Bitcoin price was trading at $125,000, a few points below the year-to-date high of $126,200. This article provides a forecast for top coins like Bless Network (BLESS), Plasma (XPL), and Mantle (MNT).
Bless Network price technical analysis
Bless is a top player in the crypto industry that competes with Grass. It is building a supercomputer that enables users to share their free computer resources and earn a return from it.
The Bless token became available to traders in September when the developers launched the mainnet. Like other newly launched tokens, Bless price initially jumped to a high of $0.1080 and then pulled back to a low of $0.023 earlier this month. It formed a double-bottom pattern at that level.
This double-bottom pattern likely explains why the Bless price has rebounded in the past few days. It has moved above the 50-period moving average and has now formed a bullish flag pattern. This pattern is made up of a vertical line and some consolidation.
Therefore, the most likely scenario is where the Bless price makes a strong bullish breakout. The initial target price will be this week’s high of $0.075. A move above that level will point to more gains, potentially to the all-time high of $0.1080, which is about 90% above the current level.
Plasma price forecast
Plasma Network has become one of the biggest players in the crypto industry. For one, it has become the fifth biggest chain in the crypto space with a total value locked (TVL) of over $8.4 billion, with Aave being the biggest dApp in the ecosystem.
Plasma has also attracted substantial stablecoins, which are now worth about $5.2 billion. This growth makes it a bigger chain than other popular chains like Avalanche, Cronos, and Cardano.
The XPL token price peaked at $1.6938 in September and the retreated to a low of $0.8312, where it formed a double-bottom pattern, which is a common reversal sign.
Plasma price has now moved slightly above the 25-period moving average on the three-hour chart. It is also forming what looks like a rounded bottom pattern.
Therefore, the Plasma price will likely continue rising as bulls target the next important resistance level at $1.5, which is about 50% above the current level. A move below the lower side of the double-bottom pattern level will invalidate the bullish outlook.
Mantle price analysis
Mantle is a top blockchain network seeking to bridge the gap between traditional finance and decentralized finance. It is a layer-1 network that has had substantial growth in the past months, with the total value locked in the ecosystem rising to over $372 million and the stablecoin supply standing at $732 million.
The top players in the Mantle ecosystem are Agni Finance, Treehouse Protocol, Merchant Moe, and Ondo Finance.
Mantle token price has been in a strong uptrend in the past few months, moving from a low of $0.5530 in July to over $2.4 today. The surge saw it move above the important resistance level at $1.417, its highest level in January this year.
Mantle price has remained above the 50-day and 100-day Exponential Moving Averages (EMA), while the Relative Strength Index and the MACD indicators have all pointed upwards.
Therefore, the most likely scenario is where the Mantle token pulls back and possibly retests the support level at $1.5. The bearish view is based on the view that the Relative Strength Index (RSI) has formed a bearish divergence pattern.
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