Cryptocurrencies Price Prediction: Avalanche, Zcash & Ripple — Asian Wrap 04 December
|Avalanche Price Forecast: Bullish momentum builds post-resistance breakout
Avalanche (AVAX) takes a breather above $14.00 at press time on Thursday after two consecutive days of recovery. Still, a largely sideways trend in AVAX futures Open Interest (OI) below the $600 million mark reflects an overall risk-off sentiment among investors. The technical outlook for AVAX indicates a bullish tilt, as indicators suggest a shift in momentum amid a breakout of a resistance trendline.
Top Crypto Gainers: Zcash, Telcoin, Curve DAO – Rebounds signal upside potential
Zcash edges higher by 3% at press time on Thursday, advancing the 8% gains from the previous day. The privacy coin remains buoyant above the $300 psychological support and aims to reclaim the $350 mark. A steady recovery in ZEC could aim for the 50-day Exponential Moving Average (EMA) at $421. In the event of a moving-average breakout, Zcash could extend the rebound to the $550-$527 supply zone.
XRP rises as ETF inflows persist despite weak retail demand
Ripple (XRP) is trading at around $2.17 at the time of writing, as bulls push to regain control of the trend. Despite the broader cryptocurrency market's bearish outlook, XRP has risen for the second consecutive day, signaling a potential bullish shift. XRP bulls are aiming to gain momentum alongside other crypto majors such as Bitcoin (BTC) and Ethereum (ETH). However, retail interest in the cross-border remittance token has been significantly suppressed since the October 10 flash crash.
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