Crypto price prediction: XDC Network, Polkadot, dYdX
Cryptocurrencies remained in a tight range this week as Bitcoin continued to ping pong around the $30,000 support level. The crypto fear and greed index consolidated at the neutral point at 52 while volumes remained low. This article will provide predictions of some of the top performers during the week, including XDC Network, Polkadot, and dYdX.
XDC Network price prediction
XDC Network is a small layer-1 and EVM-compatible network with enterprise grade features. It has higher transaction speeds and lower costs. Some of the players in its ecosystem are Copper, Vinter, Fireblocks, and Fluent, among others.
XDC Network price has been in the green in the past five straight days and is now hovering at the highest level since April 2022. At its peak, the token was up by more than 41% from the lowest level this month.
On the daily chart, the coin has moved above the 50-day and 25-day moving averages, which is a bullish sign. Most importantly, XDC is hovering at an important resistance point since this price was the highest level on June 1st. The Relative Strength Index (RSI) has moved to the overbought level.
Therefore, XDC network’s rally will likely take a breather in the coming days. If this happens, the next level to watch will be at $0.035.
DYDX price prediction
The DYDX token price has done well in the past few days even as exchange volume has eased. This performance happened even as volume in the ecosystem dropped slightly. It also coincided with the strong performance of other DeFi tokens like Maker and Compound.
The daily chart shows that the DYDX token rose from June’s low of $1.3653 in June to $2.14. It has moved above the 50-day moving average while the Relative Strength Index (RSI) rose above the neutral point. Volume has been a bit low. Therefore, the token will likely remain in this range during the weekend.
Polkadot price forecast
Polkadot has been in a tight range this week since there was no ecosystem news. It has remained above the support at $5.15, the important support point at $5.15, the lowest level on March 10th.
Polkadot price has also remained slightly above the 50-day moving average while the Relative Strength Index (RSI) has moved above the neutral at 50. It is a few points below the support at $5.72, the highest point last week.
Therefore, the outlook for the coin is neutral, with the next level to watch being at $5.72. A move above that level in a high-volume environment will confirm a bullish breakout.
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