The crypto market did well this week as Ethereum and Bitcoin prices staged a strong rebound and neared its all-time high. The market capitalization of all coins surged to a record high of over $4 trillion, while the Crypto Fear and Greed Index shifted into the greed zone. This article explores the top forecasts on Hedera (HBAR), Aerodrome (AERO), and Cardano (ADA).
Hedera HBAR price forecast
HBAR price has some of the most bullish technicals this year. First, it formed a double-bottom pattern at $0.1270 and a neckline of $0.2300. A double-bottom is one of the most bullish chart patterns in technical analysis.
Second, the coin formed a golden cross in July as the 50-day and 200-day moving averages crossed each other. A golden cross normally precedes a strong bullish breakout over time.
Third, Hedera is now forming a bullish pennant pattern, which comprises of a vertical line and a symmetrical triangle. Therefore, with the two lines of the triangle nearing their confluence, there is a possibility that a bullish breakout will happen soon.
A breakout will push it to the year-to-date high of $0.3038, its highest point this year, which is about 15% above the current level. More gains will point to further gains, potentially to last year’s high of $0.40.
Cardano price forecast
ADA price has staged a strong comeback in the past few weeks. This rebound started on June 22nd when it bottomed a $0.5090. It formed a double-bottom pattern at that level and a neckline at $0.8617.
The most bullish catalyst for ADA is that it has formed the impulse Elliot Wave pattern. It has already completed forming the first and second phases and is entering the third one.
The first Eliot wave is usually bullish, and is followed by a bearish second one. This phase is then followed by the highly bullish third one, which is usually the longest. If this is correct, the next target is $1.1895, the highest swing on March 2nd of this year. This price target is about 40% above the current level.
Aerdrome AERO price analysis
Aerodrome Finance price has been in a strong bull run in the past few months as demand for the tokens in the Base Blockchain, like ZORA soared. It also jumped after ot was added on the Coinbase app, making it easy for people to trade. Data shows that its monthly volume soared to over $25 billion, making it one of the biggest players in the DEX industry.
AERO price has formed an ascending channel and moved above the upper side, confirming a bullish breakout. Also, it has just formed a golden cross pattern as the 50-day and 200-day moving averages rise and crossed each other.
Therefore, the token will continue rising as bulls target the psychological point at $1.50, up by 20% from the current level. More gains will push it to the psychological point at $2.
Read more: HBAR price forecast: here’s why Hedera Hashgraph will hit $1
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