The cryptocurrency market was mixed on Friday, July 4, with Bitcoin remaining slightly below $110,000 and most altcoins experiencing declines. This price action occurred after the US released strong nonfarm payrolls (NFP) data, which lowered the chances of a July rate cut.
This article explores some of the top trending tokens like Bedrock (BR), Sui (SUI), and Humanity Protocol (H).
Bedrock price prediction
Bedrock is a top liquid restaking solution with over $698 million in assets and 112,400 token holders. It also has over 4,837 Bitcoins in reserves.
The BR token price week parabolic this week after the developers launched a plan to expand its Bedrock Strategic Reserve. In addition to BR tokens, Bedrock will be backed by Bitcoin.
The developers also launched a $100,0000 prize pool for BR/USDT traders on PancakeSwap. This competition runs through July 9, and will involve users earning up to 3x of their trading fees.
1/4 A $100,000 prize pool is on the table for $BR/USDT traders on @PancakeSwap in the new BR Trade Streak campaign!
Trade every day or hit the volume milestone — and earn up to 3X your trading fees.
Here’s how to qualify 🧵
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The eight-hour chart shows that the Berock price has remained in a tight range in the past few weeks. It remained inside the key support at $0.40 to the current $0.1280.
The token moved above the crucial resistance level at $0.0822, its highest point on May 10. This price was the neckline of the slanted double-bottom pattern.
It has remained above the 50-period moving average and the strong pivot reverse level at $0.1200. Therefore, the token will likely retreat as the bullish momentum fades. If this happens, the token will likely drop to the key support at $0.082. A move above the resistance at $0.15 will invalidate the bullish forecast.
Human Protocol price analysis
Human Protocol token made a strong bullish breakout this week, rising to a high of $0.0833 on Friday, its highest point since June 25. It has risen by over 377% from its lowest level since its airdrop, bringing the market capitalization to over $100 million.
Human Protocol price rose this week after it was listed on Bithumb, a top South Korean crypto exchange. This is notable since South Korea is one of the biggest countries in crypto trading.
$H is coming to @BithumbOfficial later today! 🖐️
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The Human Protocol token will likely retreat in the coming days because it has formed a double-top pattern at $0.0907 and a neckline at $0.06. A double top is one of the most bearish patterns in technical analysis.
For starters, Humanity Protocol has created a digital identification product that facilitates on-chain identity management similar to those on Worldcoin. Indeed, the developers are working on their scanners, which will be used in payments and access control.
Read more: Here’s why Robinhood stock has surged and why it may crash soon
Sui price technical analysis
Sui token has bounced back in the past few days, moving from a low of $2.36 in June to the current $3.02. It has crossed the important resistance level at $2.915, the 50-day moving average, a sign that bulls are in control.
Sui has formed a falling wedge pattern, which is made up of two descending and converging trendlines. It has also formed a bullish flag pattern.
Therefore, the token will likely continue rising as bulls target the key resistance level at $4.2890, up by over 42% from the current level. A drop below the support at $2.5 will invalidate the bullish view.
Read more: DXY: US Dollar Index forecast ahead of high stakes NFP data
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