The crypto market continued doing well on Thursday, with Bitcoin surging to the crucial resistance point at $99,000. This surge has pushed the market cap of all coins to over $3.07 trillion. Some of the top-performing cryptocurrencies were EOS, IOTA, Quant (QNT), and Bitcoin Cash (BCH). 

EOS price rises as DEX volume rise ahead of rebrand

EOS token price continued its strong rally, reaching its highest level since April 5. It has jumped by over 90% from its lowest point last month. 

The rally is because it is in the process of transitioning from EOS to Vaulta, a blockchain network that will focus on Web3 banking. In a statement on Wednesday, the developers noted that this transition will be completed on May 14th, when the ticker symbol will move from EOS to A.

There are signs that this transition is already having an impact, as data shows that the chain, as DeFi Llama data shows, the 24-hour volume jumped to $12 million. It has handled over $75 million in transactions, a 22% weekly increase. 

The daily chart shows that the EOS price has rebounded in the past month, surging from a low of $0.4340 in April to $0.830 today. It has moved to the 61.8% Fibonacci Retracement level, and remained above the 50-day and 100-day moving averages.

Therefore, the price will likely continue rising as bulls target the next psychological point at $1, which is 20% above the current level. 

IOTA price rises after first liquid staking dApp launch

The IOTA token has rallied in the past few weeks, moving from a low of $0.1305 in April to the current $0.21. This rebound happened after it formed a falling wedge pattern, one of the most bullish reversal signs. 

IOTA has also moved above the 50-day and 100-day moving averages, pointing to more gains in the coming weeks.

The token has bounced back after the developers launched the Rebased upgrade earlier this week. This upgrade introduced full decentralization, smart contracts, staking, and faster transaction speeds. 

Another key IOTA news is that Swirl Labs launched the first liquid staking network on IOTA on Wednesday. This service hopes to be the IOTA equivalent of Lido and Jito.

Quant price surged after ECB partnership

Meanwhile, Quant price soared to $94 on Thursday as investors cheered its inclusion into a group of companies working on the digital euro. This is a major announcement since it means that its network may help in the CBDC launch in the future. Quant already partners with companies like Oracle and Hitachi.

The daily chart shows that the QNT price has been in a strong rally in the past few days, moving from $58 in April to $94 today. It has moved above the key moving averages and the Average Directional Index (ADX) has moved to 35, a sign that it has the momentum. Therefore, it will likely keep soaring to $100.

Bitcoin Cash price nears $500

Meanwhile, the Bitcoin Cash price has soared from $250 to $485, and is sitting at its highest point since January 17. It formed an inverse head and shoulders pattern, a popular bullish continuation sign. Also, the Average Directional Index (ADX) has jumped to 40, a sign that bulls are in control.

The rally is likely because of the rising hopes that a company will file for a spot Bitcoin Cash ETF approval. Such a fund would have an easier path of approval since it is a proof-of-work coin like Bitcoin. As such, the agency will never view it as a financial security, making it easier to approve.

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Top cryptocurrencies soared on Thursday even after the Federal Reserve delivered a highly hawkish decision. Bitcoin price crossed the key resistance at $90,000, as analysts watch whether it will cross $100,000, a move that will catalyze a surge to $109,000. 

This article provides a forecast for Popcat (POPCAT), Mog Coin (MOG), Kaito (KAITO), and Grass (GRASS).

Kaito price predictions

Kaito is a top player in the crypto industry, where it provides a research portal that helps users track most tickers and their narratives. It competes with other popular players in the crypto industry, like Santiment and Nansen. 

Kaito launched its airdrop earlier this year, and the token initially jumped to $2.90. Like most newly launched tokens, it then plunged to $0.66 as investors sold and sentiment worsened.

The eight-hour chart shows that the Kaito price has bounced back and moved above the important resistance level at $1.0600, the highest swing on April 26. It invalidated the double-top pattern by moving above that level. 

The Relative Strength Index (RSI) and the MACD indicators have pointed upwards, a sign that it is gaining momentum. Also, the Average Directional Index (ADX) has soared to 33, and is pointing upwards. An ADX figure of 25 and above is a sign that the trend is strengthening. 

Therefore, the coin will likely keep going up as bulls attempt to retest the all-time high, which is about 97% above the current level. This surge will not be a straight line, and I expect the coin to do a break-and-retest pattern by moving back to $1.06, and then resuming the uptrend.

Read more: Why are altcoins like IOTA, EOS, Quant, and Bitcoin Cash rising?

Popcat price prediction

The Popcat token bottomed at $0.1180 in April as most Solana meme coins plunged. It has bounced back and moved above the 300% above the current level. 

The coin has flipped key resistance levels, including the key points at $0.2980, the highest swing on April 12 and March 3. It has recently moved above the key resistance point at $0.4460, the highest level in April this year. This price was the neckline of the inverse head and shoulders pattern.

Popcat price has moved above the 50-period and 25-day Exponential Moving Averages (EMA). Also, the coin has jumped above the top of the trading range of the Murrey Math Lines tool.

Therefore, the Popcat price will likely continue rising as bulls target the next key resistance point at $1, up by 117% from the current level. A move below the support at $0.3417 will invalidate the bullish Popcat forecast.

Mog Coin price technical analysis 

The Mog Coin token price bottomed at $0.0000002582 in April and then surged to almost $0.000010. It has jumped above the crucial resistance level at $0.00000070, the lowest level in September last year. 

Mog Coin price has moved above the 50-day moving average. The Relative Strength Index has moved above the overbought point. Also, the Average Directional Index has moved to 27, a sign that the momentum is continuing. Mog Coin token will likely keep surging as buyers target the resistance point at $0.0000015.

Grass price forecast

The Grass token price has remained in a tight range and underperformed other top coins like Popcat, Mog Coin, and Kaito. It was trading at $1.55, a few points above the lowest level this month. 

The token has formed a giant symmetrical triangle pattern, with the two lines nearing their confluence levels. Also, the Awesome Oscillator has remained below the zero line. 

Therefore, the token will likely go through a short-squeeze and possibly reach a high of $2.50, up by 60% from the current level. 

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The Shopify stock price has wavered this month as investors watch the upcoming earnings and the new developments on trade, especially between the US, China, and Canada. SHOP was trading at $94.50 on Wednesday, down by over 27% from its highest level this year.

The US trade war will impact Shopify’s business

Shopify is a technology company that offers a software platform that enables users to create and run their e-commerce platform solutions easily. The alternative of nit using its product is to build an e-commerce website from scratch, which is expensive and time-consuming.

Shopify hosts businesses of all sizes, including many that are in the Fortune 100. However, most of the companies in the platform are small and medium enterprises, especially in the United States of America (USA). It also hosts many dropshippers who buy products in China and sell them in the country.

The recently announced tariffs on Chinese goods will have a negative impact on these businesses, which will see their operational costs surge and sales slow. That’s because the US has implemented a 145% tariff on most goods coming from China.

Analysts believe that many small businesses that rely on Chinese suppliers will not survive these tariffs, which some US officials have termed as an embargo. In addition to the higher import costs, these firms will see weak sales as customers struggle with rising costs.

These factors will affect Shopify because of how it makes money. In addition to the monthly platform access fees, the company also collects a small commission for all goods and services sold on its platform.

Fortunately, there are signs that the US will reduce the tariffs as the two countries start negotiating a trade deal on Saturday in Switzerland.

SHOP earnings ahead 

The next important catalyst for the Shopify stock price will be the upcoming earnings, which will provide more information about its performance in the first quarter.

There is a likelihood that the company’s sales surged in the first quarter as more customers rushed to buy products ahead of the Liberation Day tariffs in April.

Yahoo Finance data shows that the average revenue will be $2.33 billion, up by 25.3% from the $1.86 billion it made in the same period last year. 

Analysts also expect the average earnings per share will be 26 cents, up 20 cents for the same period last year. Odds are that the company’s results will be higher than estimates, as it has done in the past.

The annual revenue guidance is that its revenue will be $10.79 billion, up by 21.4 billion from 2024. These numbers will be impressive for a company that has been in business for many years.

Analysts are also optimistic about the Shopify stock price, with the average estimate being $116, up from the current $94.50.

Read more: Shopify stock price giant megaphone points to a strong surge

Shopify stock price analysis 

The Shopify stock price often experiences high volatility after publishing its financial results. For example, it surged $54 to $67 when it released its numbers in August last year. It rose from $89 to $115 in the next report in November, while its performance in the last report was muted.

These numbers come after the SHOP stock has formed a bearish island pattern. This pattern is characterized by a cluster of candlesticks that are isolated from the previous price action. It is one of the most bearish patterns in the market.

Therefore, there is a likelihood that the stock will drop after its earnings, and possibly retest the important support level at  $85. The bearish outlook will become invalid if the stock moves above the psychological level at $100.

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The ongoing earnings season has been relatively muted as investors believe the results were transitory because the business happened ahead of Trump’s tariffs. As such, most stocks have not had the significant volatility that normally accompanies earnings releases. 

This article explores some of the top stocks that will publish their earnings on Thursday, including Toast (TOST), Pinterest (PINS), Affirm (AFRM), and DraftKings (DKNG). The focus will be on technical analysis and the top levels to watch when the results come out.

Toast stock price forecast

The Toast stock price has remained in a tight range in the past few days as investors wait for its financial results. It has been stuck at $36 since late last month, meaning that it is hovering at the 50-day Exponential Moving Average (EMA). 

Toast stock is forming a bullish flag chart pattern, a popular continuation sign characterized by a vertical line and some consolidation. It has also formed an inverse head and shoulders pattern, which leads to a bullish reversal. 

Therefore, the stock will likely have a bullish breakout after earnings. If this happens, the next level to watch will be at $42.97, its highest level in February, which is 20% above the current level. 

Read more: Toast stock has skyrocketed: could TOST surge to $70?

Pinterest stock price analysis

The daily chart shows that the PINS share price peaked at $40.8 in February and has dropped to the current $ 27. It has already formed a death cross pattern as the 50-day and 200-day moving averages crossed each other. 

The Pinterest stock has formed a bearish flag pattern, which is made up of a vertical line and a triangle. It often leads to a strong bearish breakdown. Therefore, there is a risk that the stock will go down after earnings, as other social media companies did.

Affirm stock forecast

Affirm, a top player in the buy now, pay later industry, has rallied after bottoming at $30.83 in April, a performance that mirrors that of other companies in the United States. 

The eight-hour chart shows that the stock has formed an inverse head and shoulders pattern. The head section is at $30.83, its April lows, while the left shoulder has moved to $42.23. Its neckline is at $52, where it is now trading at. 

Therefore, the Affirm share price will likely drop and retest the support at $42.23, the right shoulder, and then stage a strong comeback. The alternative scenario is where it rebounds above that resistance and then continues its recovery. If this happens, the next target will be at $82.58, which is up by 55% above the current level. 

Read more: Affirm stock price forecast: set to enter beast mode soon

DraftKings stock price forecast

The daily chart shows that the DKNG share price peaked at $53.50 earlier this year and then tumbled after releasing their earnings numbers in February. The main concern is that the sports betting industry is slowing, which will affect its overall growth. 

DraftKings stock price has remained below all moving averages, and like Pinterest, it has formed a bearish pennant pattern. The two lines of this triangle are about to converge, which will lead to more downside. 

A bearish breakdown will point to more downside, potentially to the next key support level at $29.70, down by 15% below the current level. 

Read more: DraftKings stock nears key price ahead of earnings

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The USD/CHF exchange rate has remained under pressure in the past few months as investors moved to the Swiss franc, which has become a popular safe-haven asset amid Donald Trump’s tariffs. It has moved to 0.8260, down by 10% from its highest point this year. 

USD/CHF forms a giant bearish pennant pattern

While the USD/CHF pair’s downward momentum has faded in the past few days, there are signs that it will have a strong bearish breakdown. It formed a death cross in April as the 50-day and 200-day moving averages crossed each other. 

The pair remains below the important point at 0.8377, the lowest swing in September last year, a sign that bears are in control. It has also formed a bearish pennant pattern, a popular bearish continuation signal in technical analysis. 

The pennant has a long vertical line and a symmetrical triangle pattern. This pattern often leads to a strong bearish breakdown, which in this case, will push it to the year-to-date low of 0.8040. A drop below that level will have it drop to the next point at 0.800. 

The long-term target for the USD/CHF exchange rate is 0.7632. This target is derived from measuring the distance between 0.9197 and 0.8377, which is the depth of the inverse cup and handle pattern, another highly bearish pattern.

The bearish USD/CHF forecast will become invalid if it rises above the key resistance at 0.8377, the lowest swing in September last year. 

USD/CHF chart by TradingView

The bullish case for the Swiss franc against the US dollar

There are a few reasons why the Swiss franc is a better currency to hold than the US dollar for now. 

First, Switzerland is a neutral country on most geopolitical issues, meaning that it is not exposed on many issues. The US, on the other hand, is involved in most geopolitical issues, putting it at risk, which have increased because of Donald Trump’s protectionist policies. 

Second, the US public debt will be a big challenge in the future. The country has a public debt of over $36.7 trillion, a figure that will continue in the next few years since the budget deficit stands at almost $2 trillion. 

The debt load will keep going up despite Donald Trump’s actions to reduce spending in some areas of the government. While this is good, most of the spending is in the non-discretionary spending, where it is hard to cut costs.

As such, the US may crash in case of a major crash since the country will not have the best tools to respond. 

Switzerland, on the other hand, has one of the lowest public debts globally. And its debt is largely backed by liquid assets like US Treasuries. This means that the country will be able to withstand any major shocks.

Further, there are signs that the Federal Reserve will start cutting interest rates this year, reducing the fixed income return that investors are getting. 

Read more: USD/CHF forecast: why the Swiss franc is soaring, and the next target

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