- Solana price has developed a head and shoulders pattern and a triple-top pattern.
- Theta Network has moved above the cup and handle pattern.
- The price of HOOK by Hooked Protocol has risen above its all-time high.
As the US dollar index maintained its downward trend this week, cryptocurrency prices fluctuated sideways. Bitcoin rose above $23,000 for the first time in months while the total market cap of all cryptocurrencies rose to over $1 trillion. In this report, we will provide predictions for some of the top cryptocurrencies, including Solana, Theta Network, and Hooked Protocol.
Solana Price Prediction
The price of Solana (SOL/USD) has made a stunning comeback as investors increase their wagers that the blockchain will survive the FTX difficulties. It has also been helped by the surge of NFTs traded in the ecosystem, as we wrote here. As a result, the price of Solana soared to its highest level since the FX crash at $26.53.
The coin is receiving a cautionary signal from the 4H chart, though. When examined more closely, it appears to have formed a triple-top pattern with a neckline at $20.48. Also resembling a head and shoulders pattern in appearance is this design. These two patterns rank among the most bearish in the market.
Solana is likely to experience a bearish breakout in the coming days as sellers aim for the $20 neckline of the two patterns. This price is about 15% below where it currently is. Additionally, it is just a little under the 23.6% Fibonacci Retracement level.
How to Buy Solana
Binance
One of the biggest cryptocurrency exchanges in the world is Binance. It offers a sizable selection of cryptocurrencies to choose from—over 600—and is better suited to more seasoned investors. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
OKX
Over 140 cryptocurrencies are available for purchase on OKX, a reputable exchange. The exchange has not yet been hacked, and OKX takes customer security very seriously. They store almost all of their clients’ funds in cold storage. Additionally, the platform allows users to use their cryptocurrency as collateral for loans and the exchange has extremely low fees.
Theta Network Price Prediction
Investors rejoiced over Theta EdgeStore’s recent launch, sending the prices of TFUEL and Theta Network sharply higher. EdgeStore is a new component of the Theta Edge Node software that is run by thousands of people around the world. When the platform is fully operational, users will be able to store their documents and files in a decentralized fashion. NFTs, video, software programs, and metaverse projects are just a few of the files that will be kept in it.
Turning to the 4H chart, we see that the THETA price has been in a strong bullish trend in the past few weeks. The highest point on November 27 at $0.9821, an important resistance level, was eventually overcome. Given that it formed on the upper side of the cup and handle pattern, this price was significant. Therefore, we can demonstrate that Theta price has more upside by calculating the distance between the upper and lower sides of the cup.
How to Buy Theta Network
Binance
One of the biggest cryptocurrency exchanges in the world is called Binance. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Peer-to-peer trading, margin trading, and spot trading are just a few of the many trading options that Binance’s users can take advantage of. It is also renowned for having low trading fees.
KuCoin
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. A built-in peer-to-peer exchange, spot and margin trading, bank-level security, and a broad range of accepted payment methods are just a few of the many services offered by Kucoin. An easy-to-use interface and affordable prices are advantages for users.
Read More: KuCoin vs Gate.io – Which is Better to Choose in 2023?
Hooked Protocol Price Prediction
HOOK price has been in a spectacular rally in the past few weeks because of the remarkable popularity of Wild Cash. This past week saw an all-time high, bringing the gains for the year to date to over 200%. The price of the coin has risen above all moving averages and the previous record high of $3.40. Therefore, using the trend-following approach, the coin will likely continue rising as buyers target the important resistance point at $4.
