Cryptocurrency prices started the week well as investors turned bullish on risky assets like stocks. This rebound was driven by news that Donald Trump was more flexible on tariffs ahead of his “Liberation Day” on April 2. This article provides forecasts for some popular cryptocurrencies like Floki (FLOKI), Chainlink (LINK), and Binance Coin (BNB).
Floki price analysis
Like other cryptocurrencies, Floki price has been in a strong downtrend in the past few months. This sell-off eased this week as the market reacted to a new DAO proposal that removes the TOKEN transaction tax on the network.
In an X post, Floki said that a very significant partner had requested for the vote as a condition for having TokenFi integrated in its platform. The advantage of this vote is that it will let TokenFi be available to more users. It will also make it more attractive to centralized exchanges and whales. However, Floki will lose some of the tax revenue, which will affect its burn rate.
Floki token price bottomed at $0.00005435 and has bounced back to $0.000065 this month. A closer look shows that the Relative Strength Index (RSI) and the Percentage Price Oscillator have formed a bullish divergence pattern.
Further, the Floki token has formed a falling wedge pattern comprising of two falling and descending trendlines. This pattern is one of the most bullish patterns in the market. The two lines of the wedge have crossed each other, pointing to more gains in the coming days.
Chainlink price analysis
Chainlink price has bounced back in the past few days, moving to a high of $15.0, its highest level since March 8. This rebound accelerated this week after the network partnered with ADGM, a leading player in the United Arab Emirates. Chainlink also reached a major milestone of having $20 trillion in transactions.
Further, there are chances that Chainlink will be one of the top coins added in Trump Media’s crypto ETFs. These funds will be launched in collaboration with Crypto.com, one of the biggest crypto exchanges in the industry.
Chainlink’s daily chart has a close resemblance to that of the Floki token. It has formed a falling wedge pattern whose two lines have almost converged. LINK has moved slightly above the upper side of falling wedge pattern and is between the 61.8% and 78.6% Fibonacci Retracement level.
The Relative Strength Index and the PPO have formed a bullish divergence pattern and are pointing upwards. Therefore, the LINK price will keep rising as bulls target the psychological point at $20.
Binance Coin (BNB) price analysis
The weekly chart shows that the BNB price has been in a strong rebound in the past few days. This rebound accelerated after the developers launched the Pascal hard fork last week. This hard fork introduced more Ethereum features on the network.
The weekly chart shows that the BNB price has been in a strong uptrend in the past few weeks. It has risen from a low of $505 to a high of $640. The coin has formed an ascending channel and is at the middle line.
On the positive sign, it has formed a cup and handle pattern, a popular continuation sign in the market. This depth is about 75%, meaning that the BNB price will ultimately rise to over $1,100.
On the other hand, the Relative Strength Index (RSI) and the PPO indicators have formed a bearish divergence pattern. Therefore, in this case, the bullish breakout will be confirmed if the price rises above the key resistance point at $690, the upper side of the cup. More gains will be confirmed if it rises above $793.
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