This week, the focus will be on crypto currencies as investors pay attention to the trade negotiations between the U.S., China and other countries, the new data for consumer inflation, and the Consensus conference in Toronto.
Bitcoin is the star of this week’s crypto market.BTCThe fear and greed indicator is in the greed area. Pi Network is one of the most important cryptocurrencies.PIEthereumETH), and Solayer (LAYER).
Ethereum
Ethereum’s price spiked after its developers released the Pectra Upgrade, which introduced 11 new improvements to areas including account abstractions, validator accounts, blobs throughput and validator withdrawals and deposits.
This week, investors will assess whether or not the current rally will last. If this trend continues, the prices of most ERC Tokens such as Pepe will increase.PEPEShiba (SHIB), and Uniswap (UNI).
Charts show that Ethereum has surged above key resistance levels at $2.132 and $4.085, the neckline in the double-top formation. The price also rose above both the 100-day and 50-day moving averges.
There is a chance that, while the rally might continue, the coin could drop and retest the $2,132 mark, before resuming its upward trend. The performance of a coin is called a “break-and-retest” and it is one of most bullish continuation signs.
Pi Network
Last week, we had predicted that the price of Pi Network would go parabolic. here The following are some examples of how to get started: here. It reached a record high of $1.0660, the highest since 21 March and 158% over its April low.
Pi Network’s focus will be on the Consensus Event in Toronto where the core group has promised to make a significant announcement.
Pi may announce a new announcement. exchange listing By one or two large exchanges. Some other news could be project partnership, changes to tokenomics or an ecosystem-fund that will incentivize the creators of its network.
There is therefore a possibility that Pi Coin will continue to surge ahead of the official announcement. All of these factors could lead to a target price of $1.8, which is the maximum swing recorded on March 13.
Solayer
Solayer: a network of stakes on SolanaSOLIt is a shame that the crypto market has been unable to rally in recent times. price plunged From a peak of $3.35, the price dropped to just $1.2 The crash was similar to the recent Mantra price plungeIt was attributed to forced liquidations, insider sales and other factors.
As the network releases another token, it will put the spotlight on Solayer’s price. It will release tokens valued at $32,000,000 on Monday. These tokens, worth $21,000,000 each, will be distributed to local communities and to the foundation.
Solayer offers more unlocks due to its circulating supply. It has 1 billion LAYER tokens, but only 210,000,000 LAYER tokens.
Since they bring new coins onto the market, token unlocks can be seen as extremely bearish. Other unlocks worth watching this week include Morpho, Aptos Pendle WhiteBit Arbitrum and Arbitrum.
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Source: crypto.news
