Cryptocurrency prices dived sharply this week after the Federal Reserve delivered a more hawkish statement than expected. Bitcoin dived to $66,000 while the total market cap of all coins plunged by over 5% to $2.43 trillion. This article provides a prediction for the Solciety (SLCTY), Binance Coin (BNB), and Toncoin.
Binance Coin price forecast
The Binance Coin made headlines last week when it surged to a record high, solidifying Chang Peng’s state as the richest prisoner in the world.
The BNB token has now suffered a harsh reversal, moving from this year’s high of $724.6 to a low of $600. It has also slipped below the important support point at $645, its highest point in March.
Binance Coin is also attempting to cross the 50-day and 25-day Exponential Moving Averages (EMA). It is also stuck at the 23.6% Fibonacci Retracement level while the Relative Strength Index (RSI) has slipped below 50.
Therefore, the token will likely continue falling now that it has forned a bearish flag chart pattern. If this happens, the next point to watch will be the 38.2% retracement point at $550. The alternative scenario is where it rebounds and retests the all-time high at $724.
Toncoin price prediction
Toncoin has been one of the best-performing cryptocurrencies this week. While most tokens dived, it has jumped and is nearing the all-time high of $7.87. The token has jumped above the middle line of the Andrew’s pitchfork tool as the total staked $TON rose.
It has also remained above all moving averages and is attempting to invalidate the triple-top pattern that has been forming. Further, the Relative Strength Index (RSI) has jumped above the neutral point at 50. It has also remained above the ascending orange trendline.
Therefore, Toncoin price will likely continue rising as buyers target the key resistance point at $10. This view will become clearer when it moves above the all-time high of $7.87.
Solciety token analysis
Unlike BNB coin and Toncoin, Solciety is not a publicly-traded cryptocurrency. Instead, it is an upcoming Solana token whose mission is to stand against crappy politics, uninspiring memes, and pitiful gains.
Its goal is to be at an intersection of Non-Fungible Tokens (NFT), meme culture, and Solana meme coin. These are some of the fastest-growing areas in the crypto industry. Solana meme coins like Bonk and Dogwifhat have become multi-billion dollar entities while the meme culture is thriving.
Solciety also aims to solve the short-term characteristic of meme coins by creating an active community that will generate hype around current events and news.
The developers have selected Solana because it has become one of the cheapest blockchain networks in the world. Solana meme coins are also doing well in the market.Solciety will start its presale on June 18th. Like most presales, the token price will adjust periodically, in this case, every 72 hours. This means that initial token buyers will benefit by buying the token at $0.000963. You can learn more about Solciety here.
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