The crypto market has started the week well, with Bitcoin and many altcoins beating the American stock market. Bitcoin price has held steady above $88,000, while the valuation of all cryptocurrencies has jumped to $2.75 trillion. This article provides the forecast of top altcoins like Reserve Rights (RSR), IOTA (IOTA), Pendle, and Solana (SOL).
Reserve Rights price analysis
The Reserve Rights Token price peaked at $0.0269 in December as most altcoins soared. It then suffered a reversal and bottomed at $0.0045 earlier this month. This was an important level as it coincided with the ascending trendline that connects the lowest swings since February last year.
The RSR token price has bounced back and moved above the 50-day Exponential Moving Average (EMA). It is also attempting to rise above the key resistance level at $0.0082, its highest level on March 26.
Top oscillators like the Relative Strength Index (RSI) and the MACD indicators have continued rising. Therefore, the Reserve Rights token will likely continue rising, with the next level to watch being at $0.0115, the 61.8% Fibonacci Retracement point.
IOTA price technical analysis
IOTA token rose to a high of $0.6390 in December as investors cheered the proposed Rebased upgrade. A lot has happened since then, including selecting a slate of validators who will oversee the network. Rebased also remains in its testnet.
Therefore, the Rebsed upgrade will likely happen in the next few months, possibly in May. Such a move will lead to more changes to the IOTA network as it introduces staking, smart contracts, and delegation. It will make IOTA a viable alternative to popular chains like Solana and Ethereum.
The daily chart shows that the IOTA price has formed a falling wedge chart pattern. It has even moved above the upper side, a sign that the bullish outlook is working out well.
IOTA has also formed a bullish divergence pattern as the Relative Strength Index (RSI) and the MACD indicators have pointed upwards. It is also attempting to move above the 50-day and 100-day moving averages.
Therefore, the coin may go parabolic in the coming days, with the next point to watch being at $0.4190, its highest point in March 2024. A drop below the key support at $0.1330 will invalidate the bullish view.
Solana price forecast
Solana token price has plunged in the past few months as it dropped from a high of near $300 earlier this year to the current $140. On the positive side, the token has formed a cup and handle pattern.
A C&H pattern is one of the most bullish patterns. The recent retreat is part of the formation of the handle section.
Therefore, the token will likely bounce back, with the next point to watch being at $260, the upper side of the cup. A move above that level will signal more gains, with the next target to watch being at $500. The bullish view will become invalid if the price drops below this month’s low of $95.
Read more: Solana (SOL) is heating up, but should you buy yet?
Pendle price analysis
The daily chart shows that the Pendle price bottomed at $1.8837 in March. It was its lowest swing in August last year.
The coin has bounced back and moved to the current $3.2. It has formed an ascending channel and has moved slightly above the 50-day and 100-day moving averages.
Pendle token formed a giant double-bottom pattern at $1.8837. Therefore, the token will likely continue soaring as bulls target the key resistance level at $5. This view will be confirmed if the token rises above the resistance level at $3.5360, the highest swing this month.
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