The crypto market was on edge today, Nov. 12, as investors remained fearful following last month’s liquidations. Bitcoin price was trading at $104,700, up from this month’s low of $100,000. This article provides forecast for some top coins like Internet Computer (ICP), Trump Coin (TRUMP), and Ripple (XRP).
ICP price forecast
The ICP price soared to a high of $9.812 on November 8, up by 375% from its lowest level in October. This rebound happened as investors cheered the launch of Caffeine, its AI platform for building websites and applications. It also jumped as the supply of stablecoins in the platform soared.
The coin has now pulled back to $6, retesting an important level where it failed to move above four times earlier this year. It has formed a break-and-retest pattern, a common bullish continuation sign in technical analysis.
ICP price has moved above the 50-day and 200-day Exponential Moving Averages (EMA). The two averages are about to cross each other in a process known as a golden cross.
Therefore, the coin will likely have a rebound, moving to this month’s high of $9.812. A move above that level will point to more gains, potentially to last November high of $15.507, which is about 136% above the current level.
On the flip side, a move below the psychological point at $5 will invalidate the bullish ICP forecast.
Trump Coin price forecast
The Trump Coin token rebounded from a low of $4.60 in October to a high of $9.48. This rebound has coincided with the performance of other cryptocurrencies. On Monday, the coin jumped after Donald Trump secured the reopening of the government without making any concessions.
The rally was short-lived, and the coin pulled back to the current $7.83. It has formed an inverse head and shoulders pattern, which is a common bullish continuation sign.
The coin has formed a falling wedge pattern, which is made of two descending and converging trendlines. It has already moved above the upper side of this wedge and retested it, confirming the bullish breakout.
Most oscillators, like the Relative Strength Index (RSI) and the MACD have all moved upwards. Therefore, the token will likely have a bullish breakout as bulls target the psychological point at $10. A move below the support at $6.90 will invalidate the bullish outlook.
XRP price technical analysis
XRP price remained on edge today as investors waited for the upcoming ETF approval. It was trading at $2.4220, which is slightly below the 50-day Exponential Moving Average (EMA).
The token is between the descending channel shown in red. This channel is part of the second phase of the Wyckoff theory. It has also formed a double-bottom pattern at $2.1700 and a neckline at $2.6730.
A move above that resistance level will point to more gains, potentially to the psychological point at $3. On the flip side, a move below the double-bottom pattern at $2.1700 will invalidate the bullish outlook.
The post Crypto price predictions: ICP, Trump Coin, and XRP appeared first on Invezz
