This past week, the cryptocurrency market continued to face uncertainty, with most altcoins experiencing significant declines and some hitting yearly lows. However, as trade-war tensions and inflation in the US subside, there is a renewed interest in altcoins, sparking hopes for a strong recovery rally in the coming week. Among the altcoins gaining attention are Pi coin, Pepe meme coin, and Binance coin (BNB).
Altcoins Gain Spotlight Amid Bitcoin’s $85K Struggle
In the midst of geopolitical tensions and Bitcoin’s struggle to surpass the $85K threshold, altcoins have taken center stage in the crypto market. Bitcoin’s market dominance has decreased, attracting whale investors who are actively accumulating altcoins like Pi, Pepe, and Binance Coin (BNB).
Pi Coin Price Analysis
The Pi coin price is currently facing resistance at $1.5, with sellers putting pressure on the price. Trading at $1.45, the price has declined by over 4.5% in the last 24 hours. The PI/USDT pair is struggling to break through the $1.5 resistance, with potential for a drop to $1.38 if sellers maintain control. However, if buyers strengthen their position, the price could rise to $1.8.
Pepecoin Price Analysis
Pepe’s price is edging upwards, aiming to break through the 23.6% Fibonacci retracement level. Facing resistance at $0.0000075, Pepe could see a breakout if it surpasses this level and targets $0.000009. However, failure to overcome resistance could lead to a retreat to $0.000006.
Binance Coin (BNB) Price Analysis
Binance Coin (BNB) is experiencing a surge in buying activity, pushing its price above $610. Trading at $614, BNB has gained 5% in the last 24 hours. The BNB/USDT pair is rising above EMA trend lines, potentially breaking through another resistance level. With the RSI at 78, indicating overbought conditions, BNB could see a correction. However, if momentum continues, BNB could reach $676. On the downside, a break below EMA20 support could lead to a drop to $563.
In conclusion, the altcoin market is showing signs of recovery amidst Bitcoin’s struggles and market uncertainties. Investors are eyeing altcoins like Pi, Pepe, and Binance Coin (BNB) for potential gains in the coming week.