Cryptocurrencies Face Turbulence Amid Geopolitical Risks and Fed Decision
As geopolitical tensions rise and teh Federal Reserve maintains interest rates, cryptocurrencies are experiencing heightened volatility.Bitcoin’s price dropped from its peak of $111,695 in May to below $102,000 on June 22, causing investor sell-offs. Top altcoins also suffered, with AB, SPX6900, Fartcoin, Virtuals Protocol, Sonic, and Story falling over 20%.Solana, axelar, and Pi Network are in focus this week due to significant token unlocks and technical setups.
Solana’s Token Unlock and Bullish Flag Pattern
solana (SOL) will unlock tokens worth $255 million on Monday. This event could introduce more tokens into the market, potentially impacting prices. However, a bullish flag pattern on Solana’s daily chart suggests a possible rebound. The token might retest the upper side of the flag at $187.30, about 40% above current levels. Created by Anatoly Yakovenko, Solana’s market cap has decreased from $12 billion to under $10 billion. Despite this, a bullish flag pattern indicates a potential price recovery. Solana’s price chart shows a descending channel, hinting at a potential bounce back. The network’s market cap has fallen, but the pattern suggests a 40% price increase.
Axelar’s Downtrend and Token Unlock
Axelar (AXL) has seen a strong bearish trend, moving from $0.6291 to $0.3464.A token unlock on Friday could led to further declines. If the price drops below the 50-day moving average, it may reach its April low of $0.2740. Co-founded by Sergey Gorbunov and Georgios Vlachos,Axelar’s price may continue falling ahead of a $5.4 million unlock. The AXL price may drop further, with the next key point at $0.2740. The network, co-founded by Algorand veterans, enables cross-chain dialog.
Pi Network’s Pi Day 2 Event
Pi Network’s pi day 2 on June 28 could spark bullish momentum. The event concludes a domain auction and includes developer announcements. A falling wedge pattern on the PI price chart signals a bullish reversal. The network’s focus on secure cross-chain communication adds to the uncertainty.
Pi Network’s Pi Day 2 and Token Unlock
Pi Network’s 80.9 million token unlock and Pi Day 2 could boost the PI price. The falling wedge pattern on the PI price chart points to a bullish reversal. The upcoming unlock and developer announcements may stabilize prices. These events could influence the market, affecting AXL and PI tokens. Stay tuned for updates on these key cryptocurrencies.
- Solana’s token unlock and meme coin plunge
- Axelar’s token unlock and technical support levels
- Pi Network’s Pi Day 2 and domain auction end may drive prices up.
