2024-3-17 08:51 |
Cryptocurrency prices are having a difficult weekend as a shakeout and profit-taking continued. Bitcoin plunged from its all-time high of over $73,000 to $66,000 while the total market cap of all coins has crashed by over 4.4% to $2.63 trillion. This report looks at three tokens like Inverse Finance (INV), Bitcoin Dogs (ODOG), and Amp.
Inverse Finance price forecastInverse Finance is a blockchain project that enables users to borrow a stablecoin known as DOLA, provide liquidity, and earn rewards by staking. The network has a TVL of over $93 million while the volume of DOLA in circulation has jumped to over $64.5 million.
Inverse Finance was one of the best-performing cryptocurrencies during the weekend as traders pumped it. It soared to a high of $96, which was a remarkable comeback for a coin that was trading at $30 when the month started.
Inverse Finance crossed the crucial resistance level at $59.90, its highest swing in July last year. It also moved briefly above the upper side of Andrew’s Pitchfork tool. The token remains above the 50-day and 100-day Exponential Moving Averages (EMA).
It has also moved slightly below the upper side of the pitchfork. Therefore, the token will likely remain under pressure in the coming days as bears target the key support at $60. More upside will only be confirmed if it moves above the resistance at $75.
Bitcoin Dogs outlookBitcoin Dogs was one of the most talked-about tokens last week as the developers concluded the token sale. They raised over $13 million from global investors, making it the most successful token sales of the year.
The next stage of the Bitcoin Dogs token will be the token listing, which is expected to happen soon. This listing will likely start with top DEX platforms like Uniswap and then followed with other popular centralised exchanges like Bybit, OKX, Binance, and Coinbase.
There are a few reasons why the ODOG token may surge after being listed. First, the listing will happen at a time when the crypto industry is in a strong bull run.
Second, there is strong demand for new tokens. As I wrote on Saturday, Book of Memes has surged to a record high and attained a market cap of over $1.2 billion.
Third, Bitcoin Dogs has a real utility. It will have a collection of 1,000 NFT tokens, have a gaming platform, and will be a decentralised community. You can learn more about the next steps here.
Amp price forecastThe AMP token price has done well in the past few months. It surged to a high of $0.0168 last week, a strong rebound since it was trading at $0.00143 in November last year. It then retreated to a low of $0.0090 as traders took profits.
Now, AMP price has bounced back as traders attempt to form a double-top pattern whose highest side was at $0.0168. It has remained above all moving averages, while the Average Directional Index (ADX) has risen to 30, meaning that it has momentum.
Therefore, the outlook for AMP token is bullish, with the next price to watch being at $0.015, which is about 25% above the current level.
The post Crypto price predictions: Bitcoin Dogs, Inverse Finance, Amp appeared first on Invezz
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