Crypto price prediction: Arbitrum (ARB), EOS, VeChain
Cryptocurrency prices had a strong performance this week as Bitcoin jumped above $30,000 and Ethereum soared to over $2,000. This rally coincided with the ongoing dollar sell-off, the latest American consumer inflation data, Shapellla upgrade, and dovish Federal Reserve minutes. In this crypto price prediction, we will look at Arbitrum (ARB), Taboo Token, and EOS.
Arbitrum (ARB) price prediction
Arbitrum is one of the newest crypto tokens since it was airdropped in March. In the first days of the airdrop, ARB token dropped as some insiders exited their positions and as concerns about its tokenomics remained.
Arbitrum has now rebounded to an all-time high as investors cheer the growth of its ecosystem. It also jumped as activity in its key dApps increase and as other cryptocurrencies jumped. On the hourly chart, the token jumped above the important resistance level at $1.44, the highest level on March 31.
ARB price remains above the 25-period and 50-period moving averages. It has also formed what looks like a bullish flag pattern. Therefore, I suspect that the token will continue rising in the near term as buyers target the key resistance at $2. This view will be confirmed if the token jumps above this week’s high of $1.59.
EOS price prediction
EOS price had a strong performance this week as traders watched the upcoming rollout of its Ethereum Virtual Machine (EVM). The developers launched the mainnet beta of this version on Friday. EOS jumped to a high of $1.2967 on Friday and then pulled back. As it rose, EOS managed to move abve the key resistance at $1.2532, the highest point on April 11.
EOS has now pulled back as it intends to retest the support at $1.2532. This performance is known as a break and retest pattern and is usually a sign of a bullish continuation. Therefore, there is a likelihood that the coin will resume the bullish trend as buyers target the key resistance at $1.30.
How to buy EOS
eToro
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Binance.US
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VeChain price prediction
The VET price made a bullish breakout this week. As shown in the chart below, the coin has been forming a symmetrical triangle pattern that is shown in blue. In price action analysis, that pattern can lead to a breakout in either direction. In this case, it made a bullish breakout and moved to the highest point since March 3.
Therefore, VeChain will likely continue rising considering that volume is also rising. If this happens, the next key level to watch will be at $0.30, which is 16% above the current level.
How to buy VeChain
Binance.US
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KuCoin
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies.
Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods.
Users can benefit from a beginner-friendly interface and relatively low fees.
