The financial market went through a busy week. On Wednesday, the US released optimistic consumer price index (CPI) statistics showing that inflation decreased to 5.0%. According to minutes from that day, the Federal Reserve Committee members were worried about a US recession. The US dollar index (DXY) decreased because of this. Therefore, there are indications that the bank will start shifting its interest rates later this year.
Cryptocurrencies had a fantastic week as well. The price of Bitcoin rose above $30,000 for the first time in months. After the Shapella upgrade, the price of Ethereum jumped past $2,000. Following Binance US’s announcement to delist Tron, its price fell. In this analysis, we will assess crypto price predictions for key tokens such as Monero (XMR), IOTA, and OKB.
The crypto rally left behind the IOTA price this week. Even though most altcoins experienced a surge, the coin stayed within a confined range. It had a price of $0.2200 on Friday. It was surprising to see that the cost was less than this month’s peak of $0.2415. The primary catalyst for the coin is the upcoming launch of EVM in Shimer’s ecosystem.
IOTA, Monero, and OKB price forecast
The coin came up with a ‘head and shoulders’ pattern on the 4H chart. Typically, this is a bearish indicator. It also fell below 50% of the Fibonacci Retracement, as well as below the 25-day and 50-day exponential moving averages.
The currency will, therefore, probably have a bearish breakout. The sellers aim for the subsequent crucial support around $0.2077, the lowest price on April 10.
This year, the price of Monero has been rising as investors switch to proof-of-work (PoW) coins in anticipation of the Shapella update. Because of its superior privacy, XMR is frequently regarded as a better investment than Bitcoin. Since its low point for the year, Monero has increased by more than 21%.
We can see that Monero is still above the 50-day moving average on the 4H chart. Additionally, an inverse head and shoulders pattern has developed. This chart pattern typically signals a positive trend in price action research. As bulls aim for the crucial resistance at $200, there is a probability that the coin may see a bullish breakout in the upcoming weeks.
The price of OKB cryptocurrency has recently been on a bullish breakout, as seen on the 4H chart. Investors flocked to cryptocurrencies as BTC surged, which sparked this rise. At $44.16, the coin has surpassed a critical resistance level and reached its highest level in March. While the MACD climbed over the neutral line, it has shot above the 50-period moving average.
As a result, it is likely that OKB will continue to rise, with $52.1 serving as the next reference level as of March 17’s peak.
