Kategorie: Crypto Analysis

Key takeaways

• The Pi Core Team introduced Protocol 27 on the Pi Testnet, enabling preparations for advanced smart contract authentication.
• A mainnet upgrade to Protocol 27 is scheduled for September 15.
• PI faces resistance at $0.1022, with a breakout potentially opening a move toward $0.1204.

Pi Network is trading lower on Monday following a gain of more than 6% last week, with its price hovering around $0.0880.

The cryptocurrency remains above the $0.0800 level but continues to face resistance below $0.1000.

Despite the recent advance, momentum indicators suggest that PI has not yet developed sufficient buying pressure to sustain a breakout.

The mixed technical outlook comes as developers prepare a network upgrade that could introduce additional authentication capabilities for applications and transactions.

Pi Core team introduces protocol 27 on testnet

The Pi Core Team announced Saturday that it had released Protocol 27 on the Pi Testnet. Pi Network is built on the Stellar Consensus Protocol, and the update incorporates the latest Stellar network protocol into its testing environment.

According to the Pi Core Team’s announcement, Protocol 27 will support new smart contract authentication capabilities.

The upgrade is intended to provide more advanced methods for applications and users to authenticate transactions.

Introducing the protocol on the testnet allows developers to evaluate its functionality before deployment on Pi Network’s mainnet.

The Pi Core Team is targeting September 15 for the mainnet rollout of Protocol 27. Once activated, the upgrade could expand the authentication options available to applications operating on the network.

The update represents a potential technical catalyst for PI, although its immediate effect on the token’s price remains uncertain.

Market participants are likely to monitor progress toward the September deadline alongside broader cryptocurrency market conditions.

PI remains trapped below the $0.1022 resistance

Pi Network is consolidating between technical levels associated with its previous decline from $0.1341 to $0.0703.

Immediate support sits near $0.0853, while the main upside barrier is located at $0.1022.

The $0.1000 psychological level also remains an important threshold for buyers. A confirmed breakout above $0.1022 would signal improving momentum and could open the path toward the next major resistance level at $0.1204.

However, PI remains below these levels, suggesting that buyers have yet to establish control.

The daily Moving Average Convergence Divergence indicator remains slightly positive and above its signal line.

This suggests that some underlying buying demand is still present, although the signal is not strong enough to confirm a sustained rally.

Meanwhile, the Relative Strength Index stands near 48, indicating broadly neutral market conditions.

An RSI reading near 50 typically suggests that neither buyers nor sellers have a clear advantage.

Together, these indicators support the possibility that PI will continue consolidating until a stronger catalyst pushes the price beyond its current range.

The first significant support level for PI is $0.0853. A break below this area could expose the rising trendline near $0.0785.

If selling pressure intensifies, the token could revisit its previous swing low at $0.0703.

For now, PI’s near-term direction depends on whether buyers can defend the $0.0853 support area and build sufficient momentum to challenge resistance near $0.1000 and $0.1022.

The post Pi consolidates below $0.10 as Protocol 27 mainnet upgrade approaches appeared first on CoinJournal.

Key takeaways

• Pepe has gained 25% this week, including a combined 22% advance over the previous two days.
• Seven whale transactions worth more than $1 million each occurred Thursday, the highest number since March 16.
• Exchange supply fell by 1.45 trillion PEPE, while top non-exchange wallets added 3.54 trillion tokens since August 12.

Pepe maintained its bullish momentum Friday after gaining a combined 22% over the previous two trading days.

The frog-themed meme coin is up approximately 25% this week as whale accumulation, declining exchange supply, and rising speculative activity strengthen its near-term outlook.

PEPE has also reclaimed several important technical levels, opening a potential path toward its 200-day exponential moving average at $0.00000363.

Whale transactions reach highest level since March

Large investors appear to be returning to Pepe as its price recovers from recent lows. Santiment recorded seven PEPE transactions worth more than $1 million each Thursday, the highest daily total since March 16.

The increase in high-value transfers indicates renewed activity among whales, although large transactions can represent either accumulation or distribution.

Changes in wallet balances, however, suggest that major holders are accumulating tokens while the amount of PEPE available on exchanges declines.

The supply of PEPE held on cryptocurrency exchanges has fallen to 81.30 trillion tokens from 82.75 trillion on August 12.

The 1.45 trillion-token decline reduces the amount of PEPE immediately available for trading and potential sale.

Meanwhile, leading non-exchange addresses increased their combined holdings to 84.04 trillion PEPE from 80.50 trillion over the same period.

That represents an increase of 3.54 trillion tokens, reinforcing signs of fresh demand from large-wallet investors.

Whale accumulation near a market swing low can indicate that influential holders expect a recovery. Continued buying and declining exchange balances could therefore support further gains, provided broader market sentiment remains favorable.

Demand is also increasing in the derivatives market. PEPE futures Open Interest climbed to a three-month high of $250 million, up from $209 million the previous day, according to CoinGlass.

The $41 million increase represents growth of approximately 19.6% and indicates that traders are opening new positions or adding exposure to existing contracts.

PEPE’s Open Interest-weighted funding rate stands at 0.0095%. The positive reading shows that long-position holders are paying short traders, reflecting a bullish bias.

However, rising Open Interest and positive funding can also increase liquidation risks if the price reverses sharply. Meme coins are especially vulnerable to volatility when speculative positioning becomes crowded.

Pepe price targets the 200-day EMA

PEPE’s near-term technical outlook has improved after its latest rally pushed the token above the 50-day EMA at $0.00000283 and the 100-day EMA at $0.00000300.

The meme coin has also surpassed its June 15 high of $0.00000314, clearing another important resistance level.

The next major barrier sits at the 200-day EMA near $0.00000363. Because PEPE remains below this long-term trend indicator, the broader technical structure has not yet turned decisively bullish.

A confirmed breakout and sustained close above $0.00000363 could strengthen the recovery and open the path toward the May 10 high at $0.00000459.

The Moving Average Convergence Divergence line has crossed above its signal line and moved further into positive territory.

A bullish histogram has also emerged above the zero line, indicating that buying momentum is strengthening.

If PEPE fails to overcome the 200-day EMA, traders may begin taking profits following the sharp weekly advance.

The 100-day EMA at $0.00000300 and the 50-day EMA at $0.00000283 could provide initial support during a pullback. A decisive decline beneath both indicators would weaken the bullish outlook and expose the July 8 low at $0.00000255.

The post Pepe price rallies 25% as whale demand and futures interest surge appeared first on CoinJournal.

Key takeaways

• Bitcoin, Ethereum, and XRP have gained nearly 20%, over 25%, and almost 30%, respectively, this week.
• Expanded U.S. Treasury debt buybacks have improved liquidity expectations and boosted demand for risk assets.
• Bitcoin trades around $76,800 after breaking above its 50-day, 100-day, and 200-day exponential moving averages.

Bitcoin, Ethereum, and XRP extended their rallies Friday as improving liquidity expectations continued to lift the broader cryptocurrency market.

Bitcoin has gained nearly 20% this week, while Ethereum has risen more than 25% and XRP has advanced almost 30%.

The rally gained momentum after the U.S. Treasury announced plans to double the size of certain debt buyback operations. 

The decision eased liquidity concerns and strengthened demand for risk-sensitive assets.

With the three cryptocurrencies trading firmly higher, investors are now watching whether Bitcoin can reach $80,000, Ethereum can reclaim $2,500, and XRP can advance toward $1.50.

Treasury buyback expansion strengthens crypto rally

The U.S. Treasury’s decision to expand its debt buyback program has helped improve sentiment across financial markets.

Larger buybacks can support liquidity in the market for longer-dated Treasury securities, easing financial pressures and encouraging investors to increase their exposure to riskier assets.

Cryptocurrencies responded strongly to the announcement, with Bitcoin, Ethereum, and XRP recording double-digit weekly gains.

Short liquidations also accelerated the rally as bearish traders were forced to close their positions, adding further buying pressure.

Bitcoin was trading around $76,800 on Friday after decisively breaking above its major exponential moving averages.

The 200-day EMA stands at $71,545, while the 100-day and 50-day EMAs are located at $66,727 and $65,286, respectively.

BTC’s position above all three indicators supports a bullish near-term outlook and suggests the market’s broader technical structure has improved considerably.

The breakout was accompanied by strong trading volume, adding credibility to the latest upward move.

Sustained trading above the 200-day EMA would reinforce the case for further gains and could establish the level as new support.

BTC bulls target the $80,000 resistance

Bitcoin’s next major resistance lies near the psychological and horizontal barrier at $80,000.

A move from $74,700 to $80,000 would represent an additional gain of approximately 7.1%.

However, the $80,000 level could attract profit-taking and fresh selling pressure following Bitcoin’s rapid weekly advance.

A decisive break and daily close above the barrier would strengthen the bullish outlook and potentially open the way to higher levels.

Failure to clear $80,000 could lead to a period of consolidation as traders digest the recent gains.

Bitcoin’s momentum indicators remain bullish but increasingly stretched. The relative strength index is hovering near 83, placing BTC firmly in overbought territory. Such an elevated reading does not guarantee an immediate reversal, but it indicates that the rally may be vulnerable to a corrective pause.

The moving average convergence divergence remains strongly positive, showing that upward momentum is still intact.

Together, the indicators suggest bulls remain in control, although the risk of short-term profit-taking has increased.

If Bitcoin retreats, initial support sits at the 200-day EMA near $71,545. Holding above this indicator would preserve the immediate bullish structure and could provide a foundation for another attempt at $80,000.

A deeper correction could bring the 100-day EMA at $66,727 and the nearby horizontal level at $66,500 into focus.

Below that region, the 50-day EMA at $65,286 offers another layer of support, followed by the structural floor at $62,300.

A sustained decline below $62,300 would weaken the broader bullish outlook, while continued trading above the 200-day EMA would keep the $80,000 target within reach.

The post Bitcoin eyes $80k after weekly rally pushes BTC above key moving averages appeared first on CoinJournal.

Key takeaways

• Pi Network trades at $0.09 after recording three consecutive bullish daily closes earlier this week.
• Expanded US Treasury bond buybacks have improved risk appetite and pushed Bitcoin toward $70,000, but PI continues to underperform.
• The token must break above the psychological $0.1000 level and the 50% Fibonacci retracement at $0.1022 to extend its recovery.

Pi Network (PI) trades around $0.090 on Thursday, preserving its three-day recovery from earlier in the week but continuing to lag behind the broader cryptocurrency market.

Renewed risk appetite has pushed Bitcoin above $71,000 after the US Treasury expanded its longer-term securities buyback operations. 

However, PI has failed to attract enough buying pressure to produce a comparable rally.

The token must overcome the psychological $0.1000 threshold to strengthen its recovery and support a more sustained bullish move.

Treasury buybacks lift crypto sentiment

The US Treasury announced that it would at least double the maximum size of certain liquidity-support buyback operations from $2 billion to $4 billion per transaction.

The initiative is intended to support liquidity in the longer-dated Treasury market and address concerns surrounding rising borrowing costs.

Improving bond-market liquidity and easing long-term yields have strengthened investor confidence in higher-risk assets, including cryptocurrencies.

Bitcoin has benefited substantially from the shift in sentiment, advancing toward $70,000 alongside sharp gains across several major altcoins.

Pi Network, however, remains among the market’s notable underperformers. Derivatives data indicates a modest improvement in speculative interest around PI, but retail demand remains relatively weak.

CoinAnk data shows that PI futures Open Interest increased to $9.30 million from $8.82 million the previous day. Open Interest measures the total value of outstanding derivatives contracts and typically rises when traders establish new positions.

Despite the daily increase, the figure remains considerably below the July 15 peak of $12.14 million.

The subdued level suggests that traders remain hesitant to commit substantial capital to PI, even as improving market conditions encourage risk-taking elsewhere in the cryptocurrency sector.

Without a more substantial increase in participation, Pi Network may struggle to keep pace with the broader market recovery.

Technical outlook: Can PI rebound toward $0.10?

Pi Network trades near $0.090 on Thursday, maintaining a neutral short-term outlook.

The token recorded three consecutive bullish daily closes earlier this week, producing a cumulative gain of approximately 4%.

PI has also moved above the 78.6% Fibonacci retracement at $0.0839, measured from the downswing between $0.1341 and $0.0703.

Holding above this level preserves the possibility of an extended recovery. However, PI still faces significant resistance around the psychological $0.1000 mark.

The token’s immediate technical resistance sits at the 50% Fibonacci retracement level of $0.1022.

A decisive daily close above the $0.1000-to-$0.1022 zone could strengthen bullish momentum and attract additional retail participation.

Such a move would also suggest that PI is beginning to capitalize on the improving sentiment across the broader cryptocurrency market.

Failure to overcome this resistance zone could keep the token confined to its current range and increase the likelihood of renewed selling pressure.

PI’s daily momentum indicators reflect a cautious recovery rather than a decisive bullish reversal.

The Relative Strength Index is hovering near the neutral level of 50, indicating that neither buyers nor sellers have established clear control.

Meanwhile, the Moving Average Convergence Divergence indicator remains slightly above its signal line, while its bullish histogram gradually expands. This configuration points to mild upside momentum, but the signal remains too weak to confirm a sustained rally.

A stronger RSI move above 50, accompanied by further MACD expansion and rising Open Interest, would improve PI’s near-term outlook.

The 78.6% Fibonacci retracement at $0.0839 remains PI’s primary support level.

Buyers must defend this area to preserve the current recovery structure. A decisive break below $0.0839 could invalidate the latest rebound and expose the swing low at $0.0703.

Conversely, holding above $0.0839 while building momentum toward $0.1000 would keep the bullish recovery scenario intact.

The post Pi Network tops $0.09 as the broader crypto market rally appeared first on CoinJournal.

Key takeaways

• Hyperliquid’s HYPE token surged 22% to $71.91 following comments from President Donald Trump.
• Trump said CFTC Chair Michael Selig is working to bring Hyperliquid into the US through a compliant and legal framework.
• HYPE must overcome resistance between $73 and $76 to challenge its record high of $76.87.

Hyperliquid (HYPE) rallied more than 20% on Wednesday after President Donald Trump revealed that the Commodity Futures Trading Commission is working on a potential regulatory pathway for the decentralized perpetual futures platform to enter the United States.

HYPE jumped 22% to $71.61 following the remarks, approaching its all-time high of $76.87 as optimism surrounding potential US expansion added to a broader cryptocurrency market recovery.

Trump signals compliant pathway for Hyperliquid

Speaking during a White House meeting with cryptocurrency, financial and technology executives, Trump said CFTC Chair Michael Selig was working to establish a legal route for Hyperliquid to operate in the US.

“I understand that Mike [Selig] is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion, working very hard on that,” Trump said. “We would really like to see it.”

The president’s comments do not mean that regulators have approved Hyperliquid to offer its services in the country. However, they confirm that the CFTC is considering how the platform could enter the US while complying with federal derivatives regulations.

The agency authorized the first perpetual futures contracts on registered US exchanges earlier this year, marking an important step toward bringing the popular cryptocurrency derivatives product into the domestic market.

Perpetual futures are derivatives contracts that allow traders to speculate on an asset’s price without an expiration date.

The products account for a substantial share of global cryptocurrency trading but have traditionally been concentrated on offshore and decentralized platforms due to regulatory restrictions in the US.

A compliant pathway could give Hyperliquid access to one of the world’s largest financial markets while potentially attracting greater institutional participation.

However, operating in the country would likely require the platform to satisfy rules governing registration, market surveillance, customer protection, anti-money laundering measures and derivatives trading.

Trump’s comments came during a wider White House gathering involving leaders from the cryptocurrency and traditional financial industries.

Attendees included Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, Robinhood CEO Vlad Tenev, Kraken co-CEO Arjun Sethi and Gemini co-founders Cameron and Tyler Winklevoss.

Nasdaq CEO Adena Friedman and Intercontinental Exchange CEO Jeffrey Sprecher also attended, alongside representatives from Chainlink and venture capital firm Andreessen Horowitz.

Government officials at the meeting included SEC Chair Paul Atkins, CFTC Chair Michael Selig and White House crypto adviser Patrick Witt.

Trump used the event to reaffirm his administration’s ambition to position the US at the forefront of emerging technologies.

“We’re ensuring that America remains the undisputed leader not only in Bitcoin and crypto but also technologies like prediction markets, artificial intelligence and much more,” Trump said.

He also criticized the previous administration’s policies, arguing that they discouraged digital asset innovation in the US.

HYPE approaches all-time high

HYPE climbed 22% to $71.61 after Trump’s remarks, placing the token within reach of its $76.87 all-time high.

The immediate resistance zone sits between $73 and $76. A decisive move above this area could allow HYPE to establish a new record and potentially target the next major resistance near $94.80.

Failure to overcome the $73-to-$76 region could trigger profit-taking after Wednesday’s sharp advance.

The rally also benefited from strength across the broader cryptocurrency market. Bitcoin, Ethereum and Solana recorded substantial gains as a market-wide short squeeze contributed to nearly $3 billion in liquidations over 24 hours.

The post Hyperliquid surges 22% as Trump signals potential pathway into US market appeared first on CoinJournal.