- Kaspa (KAS), Litecoin (LTC) and Tron (TRX) are among top gainers today as crypto markets eye a rebound.
- But Hedera and Shiba Inu, one of the most popular crypto meme coins, has suffered notable declines in the past 24 hours.
- New meme coin Shiba Memu has raised over $2.16 million in its presale as AI drives interest.
The crypto market is still searching for a sure footing amidst a tricky terrain wrought with likely traps. Last week’s sharp sell-off that crashed Bitcoin to lows of $25k and Ethereum to under $1,600 has many token trading at or below key levels, with the likes of XRP leading a weekend bounce that has seen Kaspa, Litecoin and Tron among top gainers early Monday.
Elsewhere, Hedera’s outperformed in recent days but it’s among top losers in the past 24 hours. Shiba Inu price has declined further as the troubled launch of Shibarium adds to the downside pressure.
While analysts are bullish on crypto long term, here’s the short term outlook for Kaspa, Hedera as well as overview of Shiba Memu.
Kaspa price prediction
Kaspa has posted a significant uptick, rising 5% in the past 24 hours to trade above $0.043. But while the GHOSTDAG proof-of-work cryptocurrency is up on the day, price remains 16% off its recently reached all-time high above $0.051.
Zooming out, we see a recently formed cup and handle pattern. KAS has performed a breakout and retest of the support area and could embark on another upward break. The daily stochastic RSI also shows bullish divergence.
If price breaks higher, bulls should be able to test resistance in the $0.046-$0.050 zone.
Hedera price prediction
The price of HBAR, the native token of the decentralised public blockchain Hedera, has declined 3% in the past 24 hours. However, despite paring gains, HBAR price is nearly 15% up in the past month.
As highlighted here, HBAR gained some momentum after FedNow added Hedera micropayments platform Dropp Inc. The positive outlook for the token remains if bulls prevent a decline below the crucial technical level of $0.060.
Resistance is likely at $0.064, with immediate targets including $0.077 to $0.085. On the flipside, the area around $0.054 becomes a “must-defend” for bulls.
What is Shiba Memu?
Shiba Memu, a new artificial intelligence powered cryptocurrency, is nearing the final phase of its hugely successful token presale. The meme coin looks to…