The crypto market was highly volatile in July as Bitcoin price jumped to a record high and Ethereum made a strong breakout to nearly $4,000. ETF inflows soared and more treasury companies came online.
This article looks at some top tokens like Ethena (ENA), Hedera Hashgraph (HBAR), and Zebec Network (ZBCN).
Ethena price technical analysis
Ethena price staged a strong comeback in the past few weeks, moving from a low of $0.2232 in June to $0.65 today. This surge happened as the total value locked jumped by over $8.5 billion, a 55% monthly increase.
ENA price moved to the 38.25 Fibonacci Retracement level and is about to form the highly bullish golden cross pattern, which happens when the 50-day and 200-day moving averages cross each other.
Other oscillators like the Relative Strength Index (RSI) and the MACD indicators have continued rising. Therefore, the token will likely continue rising as bulls target the psychological point at $1 this month. A move above $1 will point to more gain, potentially to last year’s high of $1.3285.
A drop below the support at $0.4615 will invalidate the bullish Ethena price forecast and point to more downside.
HBAR price technical analysis
Hedera price did a strong bullish breakout, helped by the soaring stablecoin market valuation. Its stablecoin market valuation jumped to over $200 million, a trend that is continuing, especially after the US passed the GENIUS Act.
HBAR price formed a double-bottom pattern at $0.1260 and a neckline at $0.2275, the highest point in May this year. The token has formed a golden cross pattern as the 50-day and 200-day moving averages crossed each other.
The Relative Strength Index (RSI) and the MACD indicators have all pointed upwards. It is also forming a bullish flag pattern, a popular continuation sign.
Therefore, the token will likely continue rising as bulls target the year-to-date high of $0.400, up by 48% above the current level.
Zebec Network price analysis
Zebec Network has become one of the top players this year as it seeks to disrupt the financial services industry. It has launched a payment card solution that has over 60,000 members.
Additionally, Zebec’s payment processing solution handles over $40 million a month, a figure that is growing as it becomes more mainstream.
The daily chart shows that the ZBCN price bottomed at $0.0022 on July 6 and then bounced back to the current $0.0060. It has moved to the highest point since June 3rd.
Zebec Network price has jumped above the 50-day and 200-day moving averages. Therefore, there are signs that the token is eying the crucial resistance at $0.007167, its highest point this year.
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