The crypto market held steady on Wednesday morning as the fear and greed index soared to 75. Bitcoin held steady above $104,000, while Ethereum has jumped above $2,600. This article provides some top crypto price predictions like Berachain (BERA), XRP, Ether Finance (ETHFI), and Pi Network (PI).
Berachain price analysis
The Berachain price bounced back even after the network continued facing substantial challenges. For example, the total value locked (TVL) on the Berachain network has dropped by 40% in the last 30 days to over $3.37 billion. The stablecoin market cap has continued falling, moving from a high of $1.34 billion in March to below $300 million.
The eight-hour chart shows that the BERA price bottomed at $2.68 earlier this month and then soared by 77% to a high of $4.75. It crossed the important resistance at $3.87, the highest swing in April 25. It then retested the support at $3.8, a break-and-retest pattern, a popular continuation sign.
BERA’s price on the eight-hour chart reached a low of $2.68 earlier this month before increasing by 77% to $4.75. It surpassed a key resistance level at $3.87, which was the highest point on April 25. Following this, the price returned to test the $3.8 support, a break-and-retest pattern that often indicates a continuation of the upward trend.
BERA price has moved above the 50-period moving average and is hovering at the 23.6% Fibonacci Retracement level. Therefore, the token will likely continue consolidating, and then it will bounce back to the 50% retracement point at $5.95. A drop below the support at $3.7 will invalidate the bullish outlook.
ETHFI price analysis
Ether.fi, is one of the top players in the decentralized finance industry. It is a liquid staking and restaking network with over $7.24 billion in assets, making it the fourth-biggest DeFi company after AAVE, Lido, and EigenLayer. ETHFI, its token, has soared as its TVL has jumped by over 56% in the last 30 days,
The daily chart shows that th ETHFI token rallied from $0.40 on April 7 to $1.517 this week, making it one of the best-performing coins. This rally happened as the total value locked jumped, and after the developers announced strong revenues and a token buyback measure.
Based on the $ETHFI buyback amount last week the effective APR would have been >120%, but we’re capping at 35% so we can smooth it out over time.
So that 35% is likely sustainable for a while, depending on how much $ETHFI continues to be staked.
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The ETHFI price has moved above the key resistance level at $1.255, the highest swing in February and the upper side of the cup-and-handle pattern, a popular continuation sign. This pattern has a depth of about 70%, meaning that a bullish breakout will push it to $2.1.
XRP price technical analysis
The XRP price has risen in the last two consecutive weeks, reaching a high of $2.65, its highest point since March 10. It has jumped by almost 60% from its lowest point in April this year.
XRP price has bullish technicals. It has now moved into the fifth phase of the Elliot Wave. In most periods, this phase is usually highly bullish. It has remained above the 50-week moving average and formed a bullish pennant pattern.
This pennant is made up of a tall vertical line that resembles a flagpole and a triangle. It often leads to a strong bullish breakout, in this case, probably to the year-to-date high of $3.4. A move above that level will point to more gains, possibly to $5.
Pi Network price prediction
The Pi Network price has bounced back in the past few days, moving from a low of $0.5572 last week to a high of $1.6638 on Monday. This rebound happened after the Core Team teased of a major news event on May 14.
A Pi ecosystem announcement will be released on May 14. Tune in to find out what’s coming next!
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Analysts anticipate that the team will either announce a change of its tokenomics, an ecosystem fund, or an exchange listing. The hope is that the token will surge after the news.
A look at the eight-hour chart shows that it has moved into the third phase of the Elliott Wave pattern. It has also moved above the 50-period Exponential Moving Average (EMA).
Therefore, the token will likely continue rising as bulls target this week’s high of $1.6638, followed by the psychological point at $2.
The risk, however, is that it may go through a situation known as ‘buy the rumor and sell the news.’ This is a situation where investors buy an asset ahead of a major news event and then sell it when it happens.
Read more: Pi Network price nears $1: has the Pi Coin train left the station?
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