The crypto market remained on edge on Saturday after suffering a big reversal on Friday following Donald Trump’s tariff threat on European goods. Bitcoin price was hovering at $108,000, while the market cap of all coins tumbled to $3.4 trillion. This article provides a forecast for top cryptocurrencies like Jupiter (JUP), Bonk (BONK), and Hyperliquid (HYPE).
Jupiter price prediction
Jupiter token has bounced back in the past few weeks, soaring by over 83% from its lowest level this year. Still, it remains significantly below last November’s high of $1.4400.
JUP token was trading at $0.5500 on Saturday, a notable level since it was the lowest swing in July last year. It was also the neckline of the head and shoulders chart pattern.
It has moved slightly above the 50-day and 100-day Exponential Moving Averages (EMA), a sign that bulls are in control.
JUP has also formed an ascending channel shown in red. Therefore, JUP price needs to move above the resistance at $0.6338 to confirm the bullish breakout. There is a risk that it has formed a break-and-retest pattern, by retesting that resistance. A break-and-retest is a popular bearish continuation sign.
Bonk price technical analysis
Bonk, the second-biggest meme coin on the Solana ecosystem, has bounced back in the past few months. This rebound started after it formed a double-bottom pattern at $0.000008953. It has moved above the neckline at $0.00001543. A double bottom is one of the most common bullish reversal patterns.
Bonk price has formed an ascending channel and moved slightly above the 23.6% Fibonacci Retracement level. The 50-day and 100-day Exponential Moving Averages are about to cross each other, forming a mini-golden cross pattern.
Therefore, the most likely scenario is where the Bonk price rises and hits the 50% Fibonacci Retracement level at $0.00003460, which is about 60% above the current level.
HYPE price forecast
Hyperliquid token price has surged recently as the network has emerged as the biggest player in decentralized finance. Data shows that its protocol handled over $74 billion in transactions in the last seven days. That figure is significantly higher than what top DEX networks like Uniswap and Raydium handled during the month.
Hyperliquid has now handled over $1.55 trillion worth of transactions since its founding. The cumulative total is much higher than that of other perpetual futures exchanges like Jupiter, edgeX, GMX, and Vertex Edge, combined.
Jupiter has also become a highly profitable player as its daily profits surged to over $5 million this week.
The daily chart shows that the HYPE price has soared from about $9.4 on April 7 to $35 today. It crossed the important resistance level at $28.38, the upper side of the cup-and-handle pattern whose depth is about 67%.
A C&H is a popular bullish continuation pattern. It has also moved above the 50-day moving average.
Therefore, by measuring 67% from the cup’s upper side, we can estimate that the HYPE price will keep rising and possibly hit the target at $47.7. A move below the support at $28 will invalidate the bullish HYPE forecast.
Read more: Hyperliquid bulls now target $40 after HYPE hit new ATH
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