The crypto market held steady during the weekend as Bitcoin and other tokens remained in a narrow range. Prices have done well after the US published a weak nonfarm payrolls (NFP) report on Friday. This article looks at some of the top trending tokens today, including LayerZero (ZRO), Midnight (NIGHT), and Pi Network (PI).
LayerZero price prediction
ZRO chart | Source: TradingView
LayerZero price has surged in the past few months, moving from a low of $0.7097 in August to the current $2.02. It has jumped by over 185% from its lowest level in August, bringing its market capitalization to over $813 million. Its volume soared by over 35% to over $258 million.
The token has jumped above the crucial resistance level of $1.3378, its highest point on August 25. Moving above that price invalidated the double-top pattern, which is a common bearish reversal pattern.
ZRO price has jumped substantially above the 50-day Exponential Moving Average (EMA), a sign that bulls remain in control. It formed a golden cross pattern on October 2nd.
It has moved above the Supertrend indicator, while the Relative Strength Index (RSI) has continued soaring. The Average Directional Index (ADX) has jumped to 50.9, its highest level in months. A soaring ADX is a sign that the uptrend is gaining momentum.
Therefore, the most likely scenario is where the coin pulls back modestly, potentially to $1.3378, and then resumes the uptrend.
Midnight price prediction
NIGHT token chart | Source: TradingView
Midnight, the privacy token launched by Charles Hoskinson, has done well in the past few weeks. This rally accelerated after Weiss Ratings predicted that Midnight will be the next top token to watch. Hoskinson then predicted that the coin will be bigger than Zcash.
The token jumped from a low of $0.0150 in July and reached a high of $0.0529, its highest level since March 28. It has moved above the crucial resistance level of $0.041, its highest level on May 31st.
Moving above that level confirmed the bullish breakout. It has soared to the upper side of the Bollinger Bands. At the same time, the Average Directional Index (ADX) has jumped to 52, a sign that the trend is gaining momentum.
The coin has, however, become highly overbought, with the Relative Strength Index (RSI) soaring to 86. Therefore, the token may retreat to the key support level of $0.041.
Pi Network price forecast
Pi Network chart | Source: TradingView
Pi Coin price has remained in a narrow range in the past few months and has underperformed most coins like Near Protocol and LayerZero. It reacted mildly to the ongoing network upgrades, including the upcoming Protocol 28.
It has recoiled inside the narrow channel shown in red. The token is hovering at the 50-day Exponential Moving Average (EMA), while the Relative Strength Index (RSI) has moved below the neutral level of 50. Also, the Average Directional Index (ADX) has slipped.
The token will likely remain inside the narrow range, potentially to the key support level of $0.0692, its lowest level on July 14.
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