Crypto prices held steady on Monday morning, with Bitcoin rising above $109,000 for the first time in almost a week. Bitcoin price was trading at $109,200, while the market cap of all coins jumped to over $3.37 trillion.
The crypto market rose after Donald Trump announced a new deadline on when new tariffs will take place. This announcement helped to allay fears that the trade war would escalate this week.
This article provides a forecast for some of the top cryptocurrencies like Hedera Hashgraph (HBAR), Bonk (BONK), and Floki (FLOKI).
Hedera Hashgraph price technical analysis
The Hedera Hashgraph price has been under pressure in the past few months as it plunged from a high of $0.40 in November to the current $0.1600 today. This decline happened as the stablecoin supply in the network plunged.
On the positive side, the HBAR price bottomed at $0.1236, where it formed a double-bottom pattern with a neckline at $0.2290. A double bottom is one of the most bullish reversal patterns in technical analysis.
Hedera Hashgaph price has also formed a falling wedge pattern, comprising of two descending and converging trendlines. Like the double-bottom, the wedge is a popular bullish reversal sign.
HBAR price has now moved above the upper side of the falling wedge, and is attempting to flip the 100-day Arnaud Legoux Moving Average (ALMA). The Relative Strength Index (RSI) and other altcoins have all pointed upwards.
Therefore, Hedera will likely continue rising as bulls target the next key resistance level at $0.2290, the neckline of the double bottom. A drop below the support at $0.1236 will invalidate the bullish HBAR forecast.
Read more: Exclusive interview with Charles Adkins, the new Hedera president
Bonk price technical analysis
Meanwhile, Bonk, the biggest Solana meme coin, has gone through a strong recovery after forming a slanted double-bottom pattern around the $0.000010 support level.
Bonk price has moved close to he neckline at $0.00002568, its highest level on May 11. It has also jumped above the 23.6% Fibonacci Retracement level, while the Relative Strength Index has moved to the overbought point at 70.
Bonk’s surge has occurred in a high-volume environment, with a 24-hour trading volume exceeding $1.3 billion. Its volume was significantly higher than other top altcoins like Dogecoin and Shiba Inu.
Therefore, the Bonk token will likely continue rising as bulls target the neckline at $0.00002568. A break above that level will point to more gains, potentially to the 50% retracement level at $0.00003453.
Floki price forecast
Floki was another top-performing cryptocurrency as it jumped by over 16% in the last 24 hours. This rally occurred in a high-volume environment, with the 24-hour metric surging to nearly $200 million.
The daily chart shows that the Floki price was trading at $0.00008710 on Monday, higher than this month’s low of $0.000059, its lowest level on June 22 this year.
Fkoki has formed a symmetrical triangle pattern whose two lines are nearing their confluence level. Additionally, the RSI has moved above the neutral point of 50, while the MACD indicator is poised to cross the zero line.
Therefore, the token will likely have a bullish breakout above the psychological point at $0.00010. A move above that level will point to more gains, with the next point to watch being at $0.0001238, up by 43% from the current level.
A drop below the key support level at $0.000059 will invalidate the bullish forecast.
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