The crypto market is buzzing, with some altcoins standing out. This week, three tokens are catching everyone's attention : BONK experiencing euphoria, Aptos under pressure, and Pi Network ready to surprise. Analysis of technical signals and catalysts to watch.
Bonk, the leading meme cryptocurrency on the Solana network, is in the spotlight this week as its momentum shows no signs of slowing down. After climbing for 5 consecutive days, Bonk stands out among altcoins, now trading at its highest level since May 23.
Having surpassed the Fibonacci retracement level at 23.6% to $0.00002095, Bonk is approaching the crucial resistance at $0.000025, its highest level since May 12. Additionally, the token has moved above its 50 and 100-day moving averages, indicating that bulls are in control. Technical indicators such as the Relative Strength Index and the MACD also confirm this bullish momentum.
Consequently, it’s likely that the price of Bonk will continue to climb in the coming days. The next target is the 50% retracement level at $0.00003453.
Aptos, a leading network, will also be in the spotlight this week. The reason ? The platform is set to unlock tokens worth $50 million. Typically, cryptocurrencies tend to decline after such events, as they generally increase the number of tokens in circulation.
Indeed, Aptos’ price has been declining since the beginning of the year, dropping from a peak of $15.28 in November to just $4.48 today. The token has formed a bearish channel and fallen below its 50 and 100-day exponential moving averages. Furthermore, technical indicators such as the MACD and the Relative Strength Index are pointing downward.
As a result, Aptos’ price is likely to continue declining this week, with the key level to watch being the year’s low at $3.82.
Finally, Pi Network will also be in the spotlight this week, as the token stagnates at a crucial support level that could trigger a rebound. Indeed, Pi Network fell to a low of $0.46 on July 6, a key price point as it was also the low in April and June.
This decline coincided with a compression of the Bollinger Bands, indicating reduced volatility. Thus, Pi Network is likely to rebound this week if it manages to hold above the support at $0.46. Such a rebound could see it retest the important resistance level at $1.
In conclusion, the cryptocurrencies Bonk, Aptos, and Pi Network are worth watching closely this week. Whether for their bullish momentum, upcoming events, or critical support levels, these 3 altcoins could well offer excellent opportunities for savvy investors.
To capitalize on opportunities related to these altcoins, here’s a guide for BitMart. Let’s take the example of an investor looking to buy BONK :
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