Cryptocurrency prices had a good performance this week as Bitcoin rose to $26,000.
TommyNet was one of the best performing tokens as it reached record highs.
VeChain price rises after Coinbase listing.
Cryptocurrency prices had a relatively good week as Bitcoin climbed above $26,000 after falling below $25,000 on Monday. Some of the most important news were Franklin Templeton’s decision to apply for a Bitcoin ETF and Deutsche Bank’s move to offer a crypto custody solution.
There were other important news. Hedera Hashgraph launches Stablecoin Studio, a product that empowers institutions to create stablecoins. Messaging giant Telegram integrated Toncoin, while Coinbase added VeChain to its platform. This article takes a look at some of the top cryptocurrencies including TommyNet, XDC Network, and VeChain.
Tomato Price Prediction
TommyNet was one of the top breakout stars in the crypto industry this week as it reached its highest level on record. As it surged, the token broke into the world’s top 100 cryptocurrencies with a market capitalization of over $268 million.
For starters, TommyNet is a blockchain project that seeks to build quality applications. It has a browser, a DNS service, and a multichain digital wallet for tokens and NFTs. It aims to combine the best of Web2 and Web3 technologies to create a more private ecosystem.
It is unclear why the price of Tominate increased. One possible reason is that traders are simply pumping the token because there was no major news in the ecosystem. On the two-hour chart, the token rose above the key resistance at $3.60, the highest level since September 11.
It has moved slightly above the 25-period moving average while the Relative Strength Index (RSI) has moved above overbought levels. Therefore, the token is likely to retreat as sellers target the key support at $3.6 if the momentum diminishes.
xdc network price forecast
The XDC Network token price made a strong bullish comeback after falling to $0.050 on Monday. On the four-hour chart, the pair managed to surpass the upper side of the falling wedge pattern shown in red. In price action analysis, this pattern is one of the most popular bullish signals.
Therefore, due to the falling wedge pattern, there is a possibility that the coin will continue to rise as buyers target the key level of $0.60.
VeChain Price Prediction
The price of VeChain skyrocketed after it was listed by Coinbase, one of the world’s largest exchanges. It rose more than 17% from its lowest level on Monday. As soon as it reversed, the coin turned into support at the important resistance level of $0.016 (August 29).
VeChain has moved above the 25-day and 50-day moving averages while MACD has moved above the neutral point. The price is also above the Ichimoku cloud.
I suspect that VeChain price is likely to decline in the coming days as the bullish momentum wanes. If this happens, the coin will likely retest the support at $0.01680. The alternative scenario is that the price rises if buyers target resistance at $0.018 (high on August 14).
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