The crypto market remained under pressure in Friday as the 24-hour volume plunged because of the Easter holiday. Bitcoin remained at $66,500, while the market capitalization of all coins stalled at $2.3 trillion. This article provides a forecast for top tokens like Algorand (ALGO), Quant (QNT), and Venice Token (VVV).
Algorand price prediction
Algorand price has rebounded in the past few days after the developers announced job cutsaffecting about 25% of the workers.
A closer look at the daily chart shows that the ALGO price formed a strong bottom at $0.0805, where it failed to move below three times. A triple bottom is one of the most common bullish reversal signs in technical analysis.
The coin has now rebounded above the important resistance level at $0.097, its highest point on March 17. It has now rebounded above the 50-day and 25-day Exponential Moving Averages (EMA).
The Relative Strength Index (RSI) has jumped to the overbought level of 78, while the two lines of the Percentage Price Oscillator (PPO) have moved above the zero line.
Therefore, the most likely Algorand price forecast is moderately bullish, with the next key target being at $0.1455, its highest point in January this year. On the other hand, a drop below the key support level at $0.0971 will invalidate the bullish outlook.
Quant price forecast
Quant token has rebounded in the past few months, rising from the year-to-date low of $53.80 in January to the current $75.
The token has jumped above the important resistance level at $69.12, its lowest level in November and December last year.
QNT token has jumped above the 50-day and 25-day moving averages, while the RSI and the PPO have continued rising.
The token has formed a small bullish flag pattern, which is made up of a vertical line and a descending channel. This pattern often leads to a continuation.
Quant has also formed an inverted head-and-shoulders pattern, a common bullish continuation sign. Therefore, the coin will likely continue rising, with the next target to watch will be the psychological level at $90. A drop below the support at $70 will invalidate the bullish outlook.
QNT price chart | Source: TradingView
Venice Token price technical analysis
The VVV token has done well as demand for the ChatGPT rival continued rising. It bottomed at $0.9056 in November last year to $7.08 today, with its daily volume hitting $30 million.
The coin has already moved above the important resistance level at $5.3260, its highest point on May 1. It has also remained above the 50-day and 100-day Exponential Moving Averages (EMA).
VVV price chart | Source: TradingView
Therefore, the token will likely continue rising in the near term, with the next key target being at $8.50, its highest point this year. This target is about 20% above the current level. The bullish outlook will become invalid if it drops below the support at $5.33.
The post Crypto price predictions today: Algorand, Quant, Venice Token appeared first on Invezz