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Pi Network (PI) faces mild bearish pressure: Check forecast

Key takeaways

  • Pi Network (PI) is currently consolidating within a descending wedge pattern on the 4-hour chart.
  • The deployment of cross-chain contracts on the BSC and OP testnets is part of the ongoing mainnet upgrades, expanding Pi Network’s capabilities.

PI extends consolidation within descending wedge pattern

Pi Network (PI) is trading in the red on Wednesday, down 1%, continuing its consolidation within a descending wedge pattern on the 4-hour chart. 

Despite the current bearish price action, the technical outlook remains mildly bullish. PiChain Global, a key player within the Pi Network ecosystem, has recently deployed cross-chain contracts on the BSC and OP testnets, signaling that ongoing upgrades are bringing new capabilities to the Pi Network ecosystem. 

In an update posted on X, PiChain Global announced the successful deployment of cross-chain smart contracts on two blockchain testnets: BSC (Binance Smart Chain) and Optimism’s OP testnet, built on Ethereum. 

The move highlights the growing cross-chain functionality within Pi Network, expanding its capabilities. PiChain also plans to integrate this functionality into its PCM wallet, while temporarily pausing its Meeta social app due to resource limitations.

This new development is part of the Pi Core Team’s ongoing push for the mainnet upgrade, which has now reached Stellar Protocol v23 on Pi Network’s testnet. 

The mainnet nodes must complete this upgrade by Friday to remain connected to the network, and if successful, the upgrade will unlock similar cross-chain functionality on the mainnet, broadening the utility of the PI token.

PI price forecast: potential bullish breakout from descending wedge 

The PI/USD 4-hour chart is bearish and efficient. At press time, Pi Network is consolidating between the $0.1700 mark and the May 9 high of $0.1766 on the 4-hour chart. 

This consolidation is bounded by two key trendlines—an overhead trendline from April 29 and May 6 highs, and a support trendline from April 30 and May 8 lows. 

Short-term momentum is recovering on the 4-hour chart. The Moving Average Convergence Divergence (MACD) remains above its signal line, with positive histogram bars contracting toward the zero line. 

The Relative Strength Index (RSI) is showing a steady rise in the mid-range at 46, while the price holds above the key $0.1700 level, signaling a positive divergence. 

If the bulls regain control, immediate resistance is found at the short-term descending trendline around $0.1766. 

A sustained break above this resistance level would help lift the current cap and pave the way for a potential move toward the May 6 high at $0.1881.

PI/USD 4H Chart

However, if the market undergoes a correction, initial support is at the psychological $0.1700 level, followed by the active descending support trendline near $0.1670. 

If the price breaks below this support level, it could trigger a deeper pullback, potentially weakening the broader consolidation structure.

The post Pi Network (PI) faces mild bearish pressure: Check forecast appeared first on CoinJournal.

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Tron (TRX) price retests $0.35: further rally or are bulls in trouble?

  • Tron (TRX) price is trading above $0.35 as the latest upward move adds to recent gains.
  • The altcoin’s higher price action and network activity show marked divergence.
  • Can TRX continue the uptick, or are bulls set for trouble amid a sharp reversal?

TRON (TRX) is among the stronger-performing altcoins on the day, posting modest gains as the token retests the key $0.35 resistance level amid a broader recovery across the crypto market.

Intraday data shows TRX trading volume declining 13% to about $639 million, suggesting softer market participation despite the price uptick.

The token’s ability to hold near current levels mirrors broader sentiment across major cryptocurrencies, with Bitcoin and Ethereum also maintaining important support zones.

However, analysts note that TRX’s price advance contrasts with weakening network activity metrics, a divergence that could point to potential downside risks if momentum fades.

TRX price outlook – overbought danger?

TRON is up about 23% year-to-date, making it one of the stronger-performing major altcoins over that period.

The token has continued to climb since rebounding from lows near $0.26 in early February.

Bulls are now testing resistance around $0.35, with traders watching for a possible move toward highs last seen in 2024.

Despite the strong performance, short-term technical indicators are beginning to show signs of caution.

The Relative Strength Index (RSI) has moved into overbought territory, a condition often associated with slowing momentum or potential reversals in momentum-driven markets.

Meanwhile, the MACD remains in bullish territory, although the indicator is beginning to show signs of weakening momentum.

Tron TRX Price Chart
Tron price chart by TradingView

CryptoQuant’s latest analysis highlighted this vulnerability, pointing to the stark divergence between price action and network activity.

According to the analysts, the TRX price surges in the past weeks have not aligned with on-chain activity.

For instance, the “Tokens Transferred (Total)” metric shrank from 17.3 billion to 12.2 billion, indicating reduced network utility. Prices bounced higher during this period.

“Typically, a healthy and sustainable price rally is validated by increasing network activity and utility. This glaring divergence suggests that the current upward momentum to $0.35 is not supported by actual on-chain usage. It implies that the recent price action might be driven more by speculation or hoarding rather than organic network activity,” CryptoQuant noted.

TRON experienced an 11% decline in the TRX burn ratio during Q1 2026, as users shifted toward staking rather than burning tokens for transaction fee discounts.

External factors, including ongoing scrutiny of founder Justin Sun, may further embolden bears if sentiment sours.

In the short term, key support levels cluster around $0.32-$0.29, which is where the 100-day and 200-day exponential moving averages currently hover.

A decisive break above $0.36 could validate the rally toward $0.40. Tron hit its all-time high price above $0.44 in December 2024.

The post Tron (TRX) price retests $0.35: further rally or are bulls in trouble? appeared first on CoinJournal.

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ATOM extends rally, surges above $2.10 with bullish momentum

Key takeaways

  • ATOM extends its gains, trading above $2.10 on Wednesday, up over 8% so far this week.
  • The technical outlook suggests a further upward rally in the near term

ATOM trading volume hits multi-month highs 

Cosmos Hub (ATOM) continues its bullish rally, currently trading above $2.10, up more than 8% this week. 

On-chain data reveals a positive outlook, with ATOM’s trading volume surging to $120.74 million on Wednesday, marking the highest level since early February. 

This surge in trading volume indicates growing trader interest and liquidity, further boosting ATOM’s upside momentum.

Santiment’s data suggests an increase in demand, with spot markets showing buy-side dominance and generally neutral conditions across other metrics, pointing to potential for continued upward movement. 

The rally comes after Cosmos Hub announced a new partnership with Injective. Starting soon, the USDC stablecoin from Injective will be integrated into the Cosmos Hub ecosystem. 

This integration ensures long-term support for USDC, solidifying the relationship for at least four years.

The partnership will enhance liquidity, cross-chain interoperability, and introduce a buyback mechanism for ATOM tokens. 

The Cross-Chain Transfer Protocol (CCTP) will facilitate one-signature transfers, with the protocol fees used to buy back ATOM tokens programmatically. 

This move is bullish for both Cosmos Hub and ATOM in the long term, as it strengthens the ecosystem and introduces new demand drivers.

Cosmos Hub price forecast: ATOM aims for $2.34 

The ATOM/USD 4-hour chart is bullish and efficient as the coin is outperforming the broader crypto market. 

ATOM is trading at $2.15 on Wednesday, marking a 8% increase this week. The token remains above key support levels, with the 50-day and 100-day Exponential Moving Averages (EMAs) at $1.90 and $1.97, respectively. 

This keeps the near-term bullish trend intact as ATOM pushes further away from its broken descending trend line.

The Relative Strength Index (RSI) has surged into overbought territory, currently around 75, while the Moving Average Convergence Divergence (MACD) line stays above zero with a positive spread, suggesting strong bullish momentum but cautioning against overextension.

If the bullish trend continues, initial resistance is found at the 200-day EMA around $2.34, followed by the 38.2% Fibonacci retracement at $2.39.

 A sustained break above this resistance zone could open the path to further gains, with potential targets at the 50% retracement near $2.63 and the 61.8% retracement level at $2.88.

ATOM/USD 4H Chart

However, if the market undergoes a correction, immediate support is seen at the 23.6% Fibonacci retracement at $2.09, followed by the 100-day EMA at $1.97 and the 50-day EMA near $1.90. 

A deeper pullback could occur if these levels are lost, with further support near the former trendline break area at $1.75 and the lower horizontal support around $1.65.

The post ATOM extends rally, surges above $2.10 with bullish momentum appeared first on CoinJournal.

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Bitcoin rebounds slightly above $81k amid institutional caution

Key takeaways

  • Bitcoin recovers slightly on Wednesday after finding support below $80,000.
  • US-listed spot ETF saw outflows of $233 million on Tuesday,

Bitcoin finds support at a key level

Bitcoin (BTC) has slightly rebounded and is currently trading above $81,000 on Wednesday, following a retest of a critical technical support level the previous day. 

The price surge is attributed to a recent correction and support found near the psychological $80,000 mark. As market participants await the Senate Banking Committee’s vote on the Clarity Act on Thursday, there are early indications that this could be a near-term catalyst for Bitcoin’s future price action. 

Institutional demand appears to be showing some caution this week. Spot BTC Exchange-Traded Funds (ETFs) recorded a notable outflow of $233.25 million on Tuesday, after a modest inflow of $27.29 million the previous day, according to CoinGlass data. 

If these outflows persist or intensify in the coming days, Bitcoin may experience a price correction. However, the focus remains on the Senate Banking Committee’s upcoming vote on the Clarity Act, which is anticipated to have a significant impact on the crypto market. 

Bitcoin’s recent price action has lost momentum as it faces resistance around the 200-day Exponential Moving Average (EMA), hovering near $82,000. 

The ongoing consolidation suggests that Bitcoin is taking a breather after a strong rally since early April. However, the outlook remains bullish, with the largest cryptocurrency by market capitalization potentially poised to resume its upward trend. Analysts are optimistic that the Clarity Act, which is expected to be voted on Thursday, could trigger a breakout for Bitcoin.

Bitcoin price forecast: BTC consolidating above key EMAs

Despite some caution in institutional demand, Bitcoin is showing a bullish near-term bias, with support holding above the 50-day and 100-day Exponential Moving Averages (EMAs). 

These EMAs are clustered just below $76,800 and are part of a parallel channel, suggesting ongoing consolidation in the price action.

The Relative Strength Index (RSI) on the daily chart is near 61, indicating positive momentum without being overextended. 

Meanwhile, a slightly negative Moving Average Convergence Divergence (MACD) reading points to moderating upside pressure, rather than a reversal, as Bitcoin remains below the 200-day EMA near $82,100.

If the rally persists, Bitcoin will face initial resistance at the 200-day EMA around $82,100, followed by the 61.8% Fibonacci retracement level near $83,440 and a horizontal barrier at $84,410.

BTC/USD 4H Chart

A sustained break above this resistance zone could open the door for a run toward the January peak of around $97,925.

However, if the bears regain control, support is seen at the psychological $80,000 level, with further support zones near the 50% retracement at $78,960 and the 100-day and 50-day EMAs around $76,730 and $76,420, respectively.

The post Bitcoin rebounds slightly above $81k amid institutional caution appeared first on CoinJournal.

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XRP price forecast as more whales bet on bounce

  • XRP Ledger has reached a record 332,230 wallets holding 10,000 or more XRP.
  • Growth after a sharp dip earlier in the year highlights long-term holder conviction.
  • XRP price eyes a breakout above key resistance around $1.50.

The XRP cryptocurrency continues to navigate choppy waters below $1.50, largely fluctuating alongside top altcoins.

Meanwhile, the XRP Ledger has hit a new milestone, with on-chain data revealing an all-time high in terms of wallets holding at least 10,000 XRP.

But what does this wallet growth suggest? And could broader gains lift prices above the key resistance level?

XRP Ledger wallet growth: Record high for 10,000+ cohort

Whales have largely bought the dip on major altcoins in recent weeks, and on-chain metrics highlight this as the case for XRP Ledger.

Data shows a fresh streak in crypto inflows coincides with an expanding XRP holder base. In particular, addresses with 10,000 XRP or more have climbed to 332,230.

According to data Santiment shared early Wednesday, this is the highest ever recorded mark for this cohort. The expansion has persisted through 2026’s price stagnation, where XRP has so far traded below its recent peak.

Notably, accumulation has picked up after a major dip between February 6 and 8, which saw more than 4,500 wallets drop from the 10k or more XRP category.

The sharp decline as seen in the chart below aligns with the crypto market bloodbath that triggered massive liquidations on February 5.

This resilience points to accumulation by conviction-driven investors.

 

XRP Price And Wallet Chart
XRP wallets with 10k or more coins chart by Santiment

Analysts say such whales are less swayed by volatility and more focused on XRP’s utility and long-term outlook.

It’s a move that signals increased institutional adoption, especially as crypto funds notch a multi-week streak.

XRP price outlook

As noted, the XRP price currently consolidates below the $1.50 resistance level.

However, it’s forming a tight range amid the latest upswing for risk assets, hovering near $1.45 as of writing on May 13, 2026.

Bitcoin’s push for a retest of $82,000 means muted upward action for altcoins, and XRP could mirror the sentiment as renewed risk appetite slowly sips into the broader market. Yet buyers may have eyes on breaking higher.

In this case, the token faces immediate overhead resistance at the $1.50 level, where prior rejections have capped momentum.

From a technical perspective, XRP exhibits a bullish consolidation pattern on the daily chart, with support holding at the 50-day moving average near $1.35.

Meanwhile, the RSI indicator hovers in neutral territory, meaning further room to manoeuvre before entering overbought conditions.

A breakout could allow bulls to target $2.00 and $2.75. The main focus could be a return to above $3.00.

Conversely, a drop below $1.35 might mean a retest of $1.20 lows.

The post XRP price forecast as more whales bet on bounce appeared first on CoinJournal.