Crypto Market Sees Gains as Trade Talks Spark Optimism
Cryptocurrency values soared last week after U.S. President Donald Trump mentioned ongoing trade talks with other nations. Bitcoin (BTC) climbed above $95,000, its highest in over a month. The market cap of Solana (SOL) meme coins also surged past $10 billion. Here’s why Pi Network (PI), Ripple (XRP), and Sui (SUI) are worth watching this week.
Sui (SUI) has been a standout performer, reaching $3.8, a 110% increase from its recent low. This rise was fueled by strong activity in its ecosystem, with weekly DEX volume up by 60%. However, a token unlock on Thursday could disrupt this rally. The network will release $120 million worth of tokens, which might cause a price dip. The Relative strength Index is at 77, indicating the coin might retreat to $2.8150.
Sui’s ecosystem protocols processed over $3.43 billion in the last week, bringing monthly transactions to over $11 billion. Despite this, a token unlock could dampen the momentum. The SUI price may drop to $2.8150 due to potential dilution from the unlock. The SUI price has become overbought, suggesting a possible correction.
Ripple (XRP) is at a critical point. It’s at $2.17, near the 50-day Exponential Moving Average and a key trendline. A break above these levels could signal a bullish shift.
Pi Network (PI) is consolidating at $0.6350. A listing on a major exchange could trigger a significant move. XRP is at a crucial level, needing to break above the 50-day EMA and a descending trendline to signal a bullish trend. Pi Network is in a holding pattern. A listing on a top exchange could spark a price surge.
other coins to watch include Cetus Protocol, Maverick Protocol, Optimism, Pendle, and Morpho. Binance Smart Chain’s Lorentz upgrade is also noteworthy.
- Sui’s token unlock may cause a price dip.
- XRP is at a key level, needing to surpass the 50-day EMA and trendline for a bullish outlook.
Keep an eye on these coins for potential moves. Stay tuned for updates.
