Cryptocurrency prices have experienced a week of consolidation, with Bitcoin struggling to break above the $26,000 mark. Meanwhile, traditional American stock indices, including the Dow Jones, Nasdaq 100, and S&P 500, saw declines, while the US dollar index (DXY) staged a strong recovery, reaching its highest level in five months. Let’s delve into the price predictions for XDC Network, Cronos (formerly Crypto.com Coin), and Astar Network.
XDC Network Price Forecast:
XDC Network has shown remarkable performance this year, surging from a low of $0.024 in January to a peak of $0.093 in August. Recently, the token experienced a pullback, trading around 40% below its year-to-date high. It is currently consolidating near the 25-period and 50-period exponential moving averages (EMAs).
XDC Network has found support at $0.045, a level it last reached in April. The coin’s volatility, measured by the Average True Range (ATR) indicator, has declined, hitting its lowest level since July 25th.
The outlook for XDC Network is currently bearish, with initial support at $0.050, the lowest point reached on August 26th. A breakthrough above the $0.067 resistance level could indicate a continuation of its bullish trend towards $0.08.
Cronos Price Prediction:
Formerly known as Crypto.com Coin, Cronos has been in a bearish trend as demand for the coin has waned. The DeFi ecosystem on Cronos has seen outflows, causing the total value locked (TVL) to drop from over $4.4 billion to under $500 million. Notable DeFi protocols like Tectonic and VVS Finance have lost their previous popularity.
Cronos’ price has found strong support at $0.050, a level it has struggled to breach in both June and August. It remains below the 50-day moving average and a descending trendline. The Stochastic Oscillator has started to tilt upwards.
The current outlook for CRO price is neutral. Further downside would be confirmed if the price falls below the $0.05 support level, potentially targeting $0.45. Alternatively, a rise in price could lead to a retest of the descending trendline at $0.057.
Astar Network Price Forecast:
Astar Network, a prominent blockchain in the Polkadot ecosystem, has been on a bullish trend since hitting a low of $0.0322 on June 10th. The ASTR token has surged by over 70% to its current level of $0.06.
Throughout this uptrend, the coin has formed an ascending channel and surpassed the 23.6% Fibonacci Retracement level. The Stochastic Oscillator has also moved upwards.
The Astar token’s price is likely to continue rising, with potential targets at the key resistance level of $0.070, last seen on August 23rd, and the 38.2% retracement level.