Cryptocurrency prices remained under pressure after the Federal Reserve left interest rates unchanged. Bitcoin remains above $100,000, while most altcoins attempted to crawl back. This article provides a forecast for popular cryptocurrencies like JasmyCoin (JASMY), Litecoin (LTC), and VeChain (VET).
Jasmy price prediction
JasmyCoin price peaked at $0.0592 in November last year and then suffered a big crash to the current point at $0.0230.
Jasmy dropped below the key support level at $0.0446, which was its highest swing since March last year. That point was also crucial because it was the upper side of the cup and handle pattern, a popular bullish continuation sign.
Most importantly, the Jasmy token has formed a falling wedge chart pattern, a popular bullish reversal sign. This pattern is made up of two converging descending trendlines. It typically leads to a strong bullish breakout when the two lines are nearing their meeting point.
Therefore, a combination of a falling wedge and a cup and handle pattern points to a potential rebound in the coming weeks. Such a rebound will bring the next important price target at $0.0446 into view, signaling a 75% jump from the current level. A break above that point will then lead to more gains to last year’s high of $0.05925.
Litecoin price analysis
Litecoin, often seen as Bitcoin’s small brother, has been in focus in the past few months as odds of a LTC ETF approval jumped. Canary, an upcoming financial services company, has already filed for a spot ETF.
Unlike other ETF filings like Hedera Hashgraph, XRP, and Solana, there is no reason fo the Securities and Exchange Commission (SEC) to reject a LTC ETF. That’s because Litecoin is a proof-of-work (PoW) coin that is 90% similar to Bitcoin. The only difference being the total supply, block time, and the mining algorithm. Bitcoin has supply cap of 21 million, while Litecoin has 84 million.
The daily chart shows that the Litecoin price surged and peaked at $146.83 in 2024. It moved above the important resistance level at $112.54, its highest level in March 2024.
Litecoin has remained above the 50-day and 200-day moving averages. Most recently, it has formed what looks like an inverse head and shoulders chart pattern whose neckline is about $140. This is one of the most popular bullish reversal chart pattern.
Like Jasmy, Litecoin price also formed a cup and handle chart pattern. It has also moved above the ultimate resistance point of the Murrey Math Lines level.
Therefore, Litecoin price will likely continue soaring this year as investors wait for the upcoming LTC ETF approval. Such a move will see it soar to the next level at $150.
The main risk to remember is that it is unclear whether the Litecoin ETFs will see more inflows from institutional investors.
VeChain price prediction
The VeChain price also peaked at $0.0806 in December as the surge gained steam. This was a big increase since it was about 325% above the lowest point in September. It was also a notable level since it was at the overshoot of the Murrey Math Lines.
Now, the VeChain price has formed a bearish flag chart pattern, a popular risky chart sign. This pattern is made up of a long vertical line and a rectangle formation.
Therefore, the VET price will likely have a bearish breakdown, with the next point to watch being at the ultimate support at $0.0244. The stop-loss of this trade will be at $0.055.
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