Cryptocurrency prices rebounded sharply on Wednesday morning as tensions in Ukraine appeared to ease. In a statement, the country’s president said that he was ready to compromise on breakaway regions and NATO membership. Also, there are concerns that the Fed will not be in a hurry to implement excess rate hikes in a period when recession risks are rising. So, here are the top cryptocurrency price predictions for ZCash, Terra LUNA, and Cardano.
Zcash is a leading privacy coin valued at more than $1.7 billion. The coin has jumped by more than 20% in the past 24 hours. It is trading at $142, which is the highest since January 16th this year. Most importantly, it has risen by more than 68% above the lowest level this week.
It is not alone since other privacy coins like Monero and Dash have also surged in the past 24 hours. This performance is likely because analysts expect that there will be a demand for these coins when cybercrime soars because of the Russian sanctions.
Many hackers will likely demand their payments in these coins because of Bitcoin’s privacy gaps. For example, the FBI has recovered millions of dollars from the latest hacks.
Turning to the four-hour chart, we see that the Zcash price jumped sharply and moved above the key resistance level at $135, which was the highest level on February 8th this year. It has also managed to move above the 25-day and 50-day moving averages while oscillators have risen. Therefore, there is a likelihood that the ZEC price will keep rising as bulls target the next key resistance at $150.
Terra has emerged as the most resilient cryptocurrency in the past few months. While most coins have crashed by double-digits from their highest points, LUNA price has hovered near its all-time high. This performance is mostly because of the rising demand for its DeFi tokens like Lido, Anchor Protocol, and Astroport.
In the past few months, the TVL of these networks has been in a strong bullish trend. Terra has also been helped by the rising demand of its stablecoins like Terra USD.
On the four-hour chart, the LUNA price has done well. It has risen to $94, which is slightly below the all-time high of about $103. It is above the 25-day and 50-day moving averages (MA) while the MACD has moved above the neutral line. Therefore, the coin will likely keep rising as investors attempt to move above its all-time high.
Ethereum price has also done well in the past two days. It has risen to about $2,713, which is higher than the weekend low of $2,450. On the four-hour chart, the coin has managed to move above the important support level at $2,500. It has also moved above the 25-day moving average. It remains slightly below the important resistance level at $2,857, which was the highest point on February 25th. It is also below the descending trendline shown in blue. Therefore, there is a likelihood that the ETH price will continue rising as bulls target the key resistance at $2,857.
This post was last modified on Mar 10, 2022, 07:05 GMT 07:05