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Global stocks continued rising on Wednesday as investors cheered the strong quarterly results by companies like Tesla and Visa. In Europe, the German DAX, FTSE 100, CAC 40, and Euro Stoxx 50 surged to their all-time high.
In the United States, key indices like the Russell 2000, Nasdaq 100, and S&P 500 indices continued rising. Meanwhile, the US dollar index (DXY) has moved sideways after pulling back from its highest point this month.
Cryptocurrencies are also thriving. Hedera Hashgraph (HBAR) token price surged by over 70% on Wednesday after a partnership with Blackrock, the biggest asset manager in the world. Other cryptocurrencies like Floki, IOTA, Cardano, and Quant (QNT) also continued recovering.
IOTA price forecast
The IOTA token price peaked at $0.4205 earlier this year and collapsed to a low of $0.1928 earlier this month. That was a 54% drop from its highest point this year. It bottomed at the 78.6% Fibonacci Retracement level.
As it dropped, the token plunged below the 50-day and 200-day Exponential Moving Averages (EMA). It has now retested the 200-day EMA indicator during its current rebound. The token has also moved above the 68.2% Fibonacci Retracement point while the Relative Vigor Index (RVI) has pointed upwards.
Therefore, I believe that the IOTA token still has more downside unless it moves above the 200-day and 50-day moving averages. If this happens, the next point to watch will be this month’s low of $0.200.
The key challenge for IOTA is that its network is not doing all that well. ShimmerEVM has seen limited inflows and developer interests.
IOTA chart by TradingView
Floki price prediction
The Floki Inu price has staged a strong recovery after bottoming at $0.00011 earlier this month. This crash was an important level since it was along the first support of the Woodie pivot point. The token has now rallied in the past seven straight days and moved to its highest point since April 10th of this year.
Floki Inu has constantly moved above the 100-day and 50-day Exponential Moving Averages (EMA). The bull and bear power indicator has moved above the neutral point, which is a positive sign. Also, the Relative Vigor Index (RVI) and the Relative Strength Index (RSI) have all pointed upwards.
Therefore, the outlook for the FLOKI token is bullish, with the next point to watch being the Woodie pivot point at $0.00021. A move above this level will point to more gains as buyers target the psychological point at $0.00025.
Floki Inu chart by TradingView
Cardano price prediction
Cardano price bottomed at $0.40 earlier this month and has now bounced back to over $0.50. The token has risen above the crucial resistance point at $0.45, its lowest point on January 23rd.
A look at the chart shows that the coin is now nearing the first support of the Woodie pivot point at $0.530. The Relative Vigor Index (RVI) and the Bull and Bear Index have pointed upwards. These are positive signs.
At the same time, the 50-day and 100-day Exponential Moving Averages (EMA) have formed a bearish crossover. Therefore, there is a likelihood that the token will resume the bearish trend in the coming days as bears target the key support at $0.40. The bearish view will become invalid if the price moves above the first support at $0.53.
ADA chart by TradingView
Quant price prediction
Quant (QNT) token price has rebounded after it formed a hammer pattern on April 13th. In most cases, this pattern is one of the most bullish signs in the market. The token has also rebounded above the first support of the Woodie pivot point.
Quant has now retested the important resistance at $114, its highest swing in June 2023. It has also retested the 50-day and 100-day moving averages. The Relative Strength Index (RSI) and the RVI indicators have all pointed upwards.
Therefore, the outlook for the QNT token price is bullish as the tokenisation trend continues. If this happens, the next level to watch will be the Woodie pivot point at $130.
QNT chart by TradingView
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