The crypto market held steady on Tuesday as investors cheered on Donald Trump’s recent decision to delay tariffs on smartphones and chips. Bitcoin price held steady above the important support at $84,000, while the valuation of all coins remained at $2.7 trillion. This article provides a forecast for top cryptocurrencies like Monero (XMR), VeChain (VET), Kaspa (KAS), and Onyxcoin (XCN).
Monero price prediction
Monero, a top privacy coin, bottomed at $165.32 earlier this month and then bounced back to $211. It has formed an ascending channel that connects the lowest and highest levels since January 2024.
XMR price has remained above the 50-week moving average, and has recently formed a hammer candlestick pattern. It has also jumped above the crucial support level at $186, the highest swing in 2023.
Therefore, the token will likely continue rising as bulls target the crucial resistance level at $250, up by 18% above the current level. A drop below the key support at $185 will invalidate the bullish Monero price forecast.
VeChain price forecast
VeChain, once a leading cryptocurrency, remains much lower than its all-time high. It has dropped from a high of $0.2825 in 2021 to the current $0.020.
Most recently, it has retested the ascending trendline that connects the lowest swings since July 2023. It has also moved slightly lower than the 50-week moving average.
VeChain price has also formed a falling wedge pattern, a popular bullish sign formed by connecting the highest and lowest swings since January this year.
Therefore, after falling to the key support point, there is a likelihood that the VET price will bounce back. The initial target to watch will be at $0.054, the highest swing in 2024, which is about 140% above the current level.
Read more: Bitcoin at key decision zone below $85.7K, FARTCOIN leads daily gains
Onyxcoin price technical analysis
The daily chart shows that the Onyxcoin price made a strong bullish breakout after bottoming at $0.0078 earlier this month. This rebound happened after the token formed a falling wedge pattern, which is made up of two falling and descending trendlines shown in green above. A wedge is one of the top bullish patterns in the market.
Onyxcoin token moved to the current 61.8% Fibonacci Retracement level. It also flipped the 50-day moving average, and is in the process of forming a bullish pennant pattern.
Therefore, the XCN price will likely have a strong bullish breakout, with the next key level to watch being at $0.027, the highest swing this year, which is about 37% above the current level. A drop below the support at $0.017 will invalidate the bullish outlook.
Kaspa price analysis
Kaspa token price peaked at $0.2071 in August last year and then crashed to a low of $0.056, forming a double-bottom pattern. A double bottom is a bullish sign characterized by two down-peaks and a neckline.
The token is now attempting to recover and retest the crucial resistance point at $0.085, the neckline of the double-bottom pattern. A move above that level will point to further upside, with the next point to watch being at $0.10, which is about 30% above the current level. A drop below the double-bottom point at $0.056 will invalidate the bullish outlook.
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