Crypto price predictions: Bonk, Alpaca Finance, Kyber Network

The crypto market held steady during the weekend as the recent bull market paused. Bitcoin was trading at $118,000, while some altcoins like Bonk, Alpaca Finance (ALPACA), Kyber Network Crystal (KNC), and Phoenix (PHB) surged by double digits. 

Bonk price prediction

Bonk, the biggest Solana meme coin, has done well in the past few days, moving from a low of $0.000011 to the current $0.00002590, its highest level since May 12. 

This surge happened in a high-volume environment, with its daily volume soaring to over $1.2 billion, higher than Trump Coin, Pugy Penguins, and Fartcoin, combined.

Bonk price has moved above the 50-day and 100-day Exponential Moving Averages (EMA) and the 23.6% Fibonacci Retracement level at $0.00002080. 

The MACD indicator and other oscillators like the Relative Strength Index (RSI) have all pointed upwards. Therefore, the token will likely keep rising as bulls target the 50% Fibonacci Retracement level at $0.00003440.

A drop below the support at $0.00002080, the 23.6% retracement level will invalidate the bullish Bonk price forecast. 

Alpaca Finance price forecast

One notable thing that happens during a crypto bull run is that some small altcoins jump sharply for no reason. One of those that did that was Alpaca Finance, a decentralized finance (DeFi) product for leveraged products. 

Alpaca Finance is a crypto project offering leveraged yield farming products. It helps lenders earn safe and stable yields and offers undercollateralized loans for leveraged yield farming positions.

Alpaca Finance recently announced that it would shut down its platform following the delisting from Binance. 

The daily chart shows that the ALPACA price bottomed at $0.0138 this year, and then rebounded to $0.084. This surge was likely because of the Wyckoff Theory, in which it has now moved into the markup phase.

The MACD indicator is about to do a bullish crossover, while the Relative Strength Index has moved to the overbought level. Therefore, the ALPACA price will likely resume the downtrend as the network’s final days arrive.  

Kyber Network Crystal price forecast

Kyber Network is a platform that describes itself as the liquidity hub for crypto trading. It is a top player in decentralized finance that has handled over $20 billion in volume over time. 

Kyber Network recently launched KyberSwap Crosschain, a platform that enables swaps across multiple protocols. 

The daily chart shows that the KNC price went through a short-squeeze, surging from a low of $0.2684 on July 1 to $0.7686, its highest level since December 9.

The surge happened after the token formed a falling wedge pattern, a popular bullish reversal pattern. This rally, which happened without any catalyst, will likely be short-lived, which may see it drop to the key support at $0.4265, its highest point on May 12.