The cryptocurrency market wavered on Wednesday, with Bitcoin remaining below the key resistance level at $120,000. This price action occurred after the US released its latest consumer inflation data. This article explores the top crypto forecasts on THENA, Aevo, and Morpho.
THENA price prediction
THENA, the third-largest cryptocurrency on the BNB Chain, experienced a parabolic surge this week, making it one of the best-performing tokens of the week. It surged to a high of $0.6255, its highest level since March 2nd and nearly 200% above its lowest point this year.
THENA token jumped as its network volume soared to over $30 million in the last 24 hours and $628 million in the last 30.
It also happened after the CEO made some major announcements, including plans to onboard liquidity pools for blue-chip assets and stablecoins, pushing new proposals for the VENUS deal, and LP onboarding with Solv Finance.
THENA price soared after it formed a double-bottom pattern at $0.2095, its lowest swing in April and June. This pattern is one of the most popular signs in technical analysis.
THENA has moved above the important resistance at $0.4040, its highest point in May and the neckline of the double-bottom pattern. The most likely scenario is where the THENA price pulls back and retests the support at $0.4040.
Aevo price analysis
Aevo is a top player in the crypto industry, offering a platform to trade options and perpetual futures. It has over $35 million in total value locked, and handled perpetual futures volume worth over $123 million in June. It recently launched Aevo Degen, offering 1000x leverage on stocks and crypto.
The daily chart shows that the Aevo price double-bottomed at $0.07595 an then bounced back to the current $0.1200. This is one of the most bullish reversal patterns in technical analysis.
The token is about to form a mini golden cross as the 50-day and 25-day moving averages cross each other. Oscillators like the Relative Strength Index (RSI) and the MACD have all pointed upwards.
Therefore, the Aevo token will likely keep rising as bulls target the neckline at $0.1600. A move above that level will indicate further gains, potentially reaching $0.20.
Morpho price analysis
Morpho is the biggest player in the Base blockchain with over $1.4 billion in total value locked. It is an AAVE rival enabling users to borrow money and earn interest. It is best known for its partnership with Coinbase, one of the biggest crypto exchanges in the industry.
Morpho crypto price went parabolic this week, reaching a high of $2.1283, its highest level since March 3 and slightly below the 78.6% Fibonacci Retracement level.
The token moved above the key resistance level at $1.7735, the highest swing in March this year. It has moved above the 50-day moving average.
Therefore, the token will likely resume its downtrend and retest the support at $1.7735, after which it will likely resume its uptrend. Ultimately, the token will then rebound and retest the year-to-date high of $2.5.
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