Schlagwort: crypto business

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PI faces corrective pressure as token struggles below $0.17

Key takeaways

  • Pi Network extends losses on Friday as a 50-period EMA caps short-term recovery attempts.
  • The token could drop below the $0.1600 if the bearish trend persists. 

Pi Network (PI) extended losses on Friday, risking a bearish breakout from its short-term consolidation on the 4-hour chart. 

The token remains capped by the 50-period Exponential Moving Average (EMA) at $0.1733, limiting recovery despite the recent launch of vibe coding features within the Pi ecosystem.

Vibe coding features aim to boost ecosystem development

The Pi Network has introduced vibe coding tools for developers, enabling the conversion of AI-assisted apps—from platforms like Codex, Claude Code, Replit, Cursor, and Lovable—into Pi Apps. 

This integration could reduce app development time and strengthen the ecosystem, which boasts over 60 million engaged users.

Technical outlook: correction pressure persists

The PI/USD 4-hour chart remains bearish and efficient as PI is down by more than 2% in the last 24 hours. 

PI is currently under a corrective bias, capped by the 50-period EMA at $0.1733 on the 4-hour chart and the 200-period EMA at $0.1771. 

The pair also sits below a nearby downtrend resistance line around $0.1741, reinforcing the upside barrier.

If the bulls regain control, initial resistance would be seen at the 50-period EMA at $0.1733 and the 200-period EMA at $0.1771 cap short-term upside. A nearby downtrend resistance line around $0.1741 adds to the barrier.

The momentum indicators also suggest that the bears are still in control.  The Relative Strength Index (RSI) sits at 45, below the midline, signaling persistent selling pressure. 

The MACD remains near-flat, suggesting weak, consolidative momentum rather than a decisive rebound.

PI/USD 4H Chart

However, if the bearish trend persists, immediate support would emerge at the S1 Pivot Point at $0.1645.

Pi Network’s short-term outlook remains cautious, and traders should monitor both EMA and trendline levels for signs of a breakout or deeper correction.

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Sui (SUI) extends losses amid weak retail demand

Key takeaways

  • Sui is down 10% on Friday, extending its decline for the fifth consecutive day.
  • The technical outlook for SUI is bearish, with a risk of a steeper decline toward $1.00.

Sui (SUI) is down roughly 10% on Friday, continuing a five-day decline this week as retail interest in the token wanes. 

The broader market is shifting focus away from underperforming layer-1 assets, and technical indicators suggest a potential double-digit drop toward $1.00.

Weakness in derivatives signals sell-side dominance

SUI is also losing traction in the derivatives market. According to CoinGlass, SUI futures Open Interest (OI) fell 10.5% over the past 24 hours to $727.97 million, reflecting a reduced notional value of outstanding contracts. 

In the same period, $7.2 million in positions were liquidated, with $7. million coming from long positions—indicating strong sell-side pressure.

Technical outlook: Will SUI drop below $1?

The SUI/USD 4H chart is bearish and efficient as Sui is down by 10% in the last 24 hours. At press time, SUI is trading below the 50-period Exponential Moving Average (EMA) at $1.1558 and the lower Bollinger Band at $1.1442, showing short-term bearish bias. 

The token remains above the 200-period EMA at $1.0270, suggesting that the broader recovery structure is still intact despite waning momentum.

Momentum indicators indicate that the bears are still in play. The Relative Strength Index (RSI) has slipped to 46, below the midline, while the MACD histogram remains in negative territory, implying that rebounds may face persistent selling pressure.

If the bearish trend persists, the bulls would encounter the first support at the 200-day EMA at $1.0270 and the 78.6% Fibonacci retracement at $0.9972.

A daily close below this level could see SUI approach the prior cycle low near $0.8815.

SUI/USD 4H Chart

However, if the bulls regain control, SUI could rally towards the first resistance level at $1.2171. An extended rally could see SUI hit the upper Bollinger Band near $1.2900, and the 23.6% Fibonacci retracement at $1.2947.

SUI’s technical structure shows deteriorating momentum, and traders should monitor both spot and derivatives markets for signs of further downside or potential relief rallies.

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Zcash price dips after surge, but bullish momentum remains intact

  • Zcash price fell to intraday lows of $532 after surging above $570.
  • Over $5.1 million in Zcash futures positions were liquidated in the last 24 hours.
  • Bullish case remains if buyers hold $500, but a breakdown could push ZEC toward $370.

Zcash (ZEC) fell back below the $550 level on Friday morning, trading near $530 as profit-taking emerged across the broader cryptocurrency market.

The pullback has coincided with elevated activity in derivatives markets, which analysts say suggests traders are still adjusting leverage and positioning following the token’s recent rally.

Zcash price drops below $550

Market data shows Zcash (ZEC) has declined over the past 24 hours, falling to intraday lows near $532.

The pullback follows a strong rally that pushed the token above $570 on Thursday, May 14.

The earlier gains came after The Wall Street Journal published an article comparing Bitcoin and Zcash, a development that Grayscale said “feels like one of those moments” that often precedes a surge in broader investor interest.

While daily volume profiles show a modest decline, spot trading volume for Zcash (ZEC) remained near $256 million, while futures volume exceeded $2.7 billion.

The figures suggest speculative activity remains elevated. Data from CoinGlass shows that more than $5.1 million in Zcash futures positions were liquidated over the past 24 hours.

Despite the liquidations, open interest stands at about $978 million, although this is significantly lower than the $1.52 billion recorded on May 9.

Analysts say the decline points to traders continuing to reassess leverage and overall risk exposure.

​Zcash price forecast

​Price action over recent weeks saw ZEC climb to a high of $642, extending Zcash’s dramatic recovery from lows of $317 reached on April 29.

That relief rally followed deeper losses earlier in the year, when the privacy-focused token tested support near $185 as the crypto market sell-off intensified on Feb 5.

Thursday’s intraday dynamics illustrated the token’s sensitivity to momentum: a nearly 10% surge above $570 was later pared by a 4% decline from those intraday highs, culminating in the pullback under $550.

Zcash ZEC Price Chart
Zcash price chart by TradingView

Despite the short-term pullback, the technical and fundamental picture remains bullish.

The recovery from April’s low and the subsequent climb toward the $640 area suggest investor interest in privacy coins.

Zcash’s recent progress on Quantum Recoverability is contributing to renewed attention.

If bulls defend the $500 level and broader market momentum persists, ZEC has a plausible path to revisit previous resistance above $700. Buyers may look to accumulate on dips.

​However, failure to hold $500 could expose ZEC to a deeper correction.

A break below that pivot would likely open targets near $450, with a further decline toward $370 possible.

The sizable reduction in open interest from early May reduces the immediacy of a leveraged squeeze higher. But this leaves room for renewed volatility should traders re-enter with elevated positions.

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XDC Network price outlook: Can bulls go higher as $0.037 breaks?

  • XDC climbed over 10% to surpass $0.037 on May 15, reaching its highest level since early March.
  • Catalysts include potential DTCC integration and Bitcoin rally.
  • The technical picture highlights resistance at $0.040.

XDC Network price climbed double digits to above $0.037 on May 15, with the uptick pushing the token’s value to its highest level since early March.

XDC now hovers near the key resistance line formed since late January 2026, but can it go higher?

XDC edges higher as market sentiment improves

As noted, XDC rallied sharply on May 15, rising more than 10% intraday as buyers re-entered the market.

The move lifted the token to levels not seen since early March, placing it directly beneath a horizontal supply zone near $0.040.

Trading volumes rose alongside the advance, signalling conviction among participants who are testing whether the late-January resistance can be turned into support.

But why did the XDC Network price surge in the past 24 hours?

The XDC rally coincides with broader strength in the crypto market, led by Bitcoin’s reclaiming of the $80,000 mark.

That recovery prompted many altcoins to retrace losses they incurred during a macro-driven sell-off this week, creating a risk-on backdrop that supported XDC.

Beyond market-wide tailwinds, several project-specific catalysts likely have recently helped to amplify demand.

This includes the potential adoption as a key digital asset of the Depository Trust & Clearing Corporation.

DTCC, debuting trading in July ahead of full-scale launch in October 2026, has ignited interest in XDC alongside XRP, Chainlink, Quant, and Hedera (HBAR).

While XRP gains momentum as the top token for institutional post-trade settlement, XDC looks to stand out as the primary rail for tokenized bills of lading and letters of credit. XDC’s Contour acquisition, completed in 2025, cements this outlook.

XDC Network price forecast

The latest gains have pushed XDC price further from a descending wedge pattern that had compressed price action since late January.

Bulls are now confronting a horizontal supply zone around $0.040, which also aligns with the 200-day exponential moving average (EMA).

XDC Network Price Chart
XDC Network price chart by TradingView

A decisive break and daily close above this level would likely confirm bullish momentum and could open up fresh bids around the $0.046-$0.052 supply zone.

The area marks the range that corresponds to prior congestion and could be the next resistance cluster.

However, bulls must first hold the recently breached $0.037 level. Failure to do so would raise the probability of a pullback to the 100-day EMA near $0.033.

On heavier selling, February’s lows near $0.029 become a plausible target for short-term sellers seeking to reassert control.

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XRP nears $1.50 as Senate crypto vote and whale buying fuel fresh optimism

  • XRP surged to intraday highs near $1.55 on renewed optimism.
  • Senate Banking Committee approved the Digital Asset Market Clarity Act in a 15-9 vote.
  • XRP price could target a breakout as the market cheers the regulatory milestone.

XRP price rose to near $1.55 on Friday as the cryptocurrency market cheered the Senate Banking Committee’s passage of the Digital Asset Market Clarity Act.

Other crypto assets also notched gains, with Hyperlquid, Flare, and XDC Network leading the top 100 coins by market cap.

Bitcoin also reclaimed the $80,000 level, with intraday highs coming as major altcoins held key levels.

CLARITY Act approval buoys crypto

The US Senate Banking Committee approved the bipartisan Digital Asset Market Clarity Act in a 15-9 vote, marking a significant step toward comprehensive crypto market structure legislation.

The measure will now move to a procedural merger with a similar bill in the Senate Agriculture Committee, advancing the legislative pathway for federal regulation of digital assets.

Senate Banking Committee Chairman Tim Scott engineered a last-minute maneuver to accept amendments he had previously rejected, winning over two Democratic senators after several hours of partisan debate.

While the legislation addresses a range of market structure issues, lawmakers and stakeholders acknowledged outstanding questions.

These include provisions related to law enforcement access and ethics safeguards.

Market participants nonetheless received the vote as a positive signal, interpreting it as the first major bipartisan movement on crypto market structure in months and a reduction of regulatory uncertainty ahead of a full Senate consideration.

Why could XRP price explode?

Ripple’s token XRP has struggled to climb above $1.50 in recent weeks, but tested the level late Thursday with an intraday surge to near $1.55.

While this aligned with broader market gains, the uptick largely reflected exuberance from the “XRP Army”, which views the regulatory tailwind as a major boost to the cryptocurrency.

The cryptocurrency traded around $1.47 early Friday.

XRP’s retest of the $1.50 level comes amid signs of renewed whale accumulation, with on-chain data showing growth in large-wallet holdings and rising concentration among long-term holders.

On-chain data indicates that this cohort holds a combined 45.83 billion XRP tokens, the biggest haul since May 2018.

A more definitive market-structure framework could ease compliance burdens and encourage fresh adoption of Ripple’s payment solutions, a dynamic that might translate into accelerated demand for XRP.

Risk remains though, with the path to the final vote including further legislative negotiations and potential amendments that might delay enactment into law.

Changes could also dilute near-term benefits for market participants. Nevertheless, analysts view the regulatory backdrop as one that could support sharper price moves.

The token’s price was roughly 5% up in the past week, but it has witnessed a 20% drawdown year-to-date and hovers 61% from its all-time peak.

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