Pi Network (PI), SPX6900 (SPX), and Celestia (TIA) have all recorded double-digit losses over the past 24 hours, extending a broader market correction. The ongoing risk-off sentiment in the cryptocurrency market appears linked to shifting dynamics in Middle East tensions and the approaching deadline of a 90-day tariff suspension.
Here’s a closer look at how these altcoins are performing and what might come next.
Pi Network Price Weakens as Momentum Fades
Pi Network’s price fell by another 2% as of Friday, adding to the previous day’s 9% decline. PI is now at risk of losing the 28% gains it achieved earlier in the week as it pulls back from resistance at $0.66.
A deeper correction could test the weekly low of $0.49, putting the psychological support level of $0.50 in jeopardy.
Momentum indicators are losing their bullish tone. The Moving Average Convergence Divergence (MACD) is gradually approaching its signal line, with the strength of the green histogram bars declining. The Relative Strength Index (RSI) has also dropped to 43, moving below the midline and signaling weakening bullish momentum.
However, with the potential announcement of new generative AI features on Saturday, a close above $0.66 could reignite upward momentum and push PI toward the $0.86 level, last seen on May 21.
For those interested in monitoring these shifts in real time, you can track live cryptocurrency movements.
SPX6900 Meme Coin Risks Falling Below $1
The SPX6900 meme coin is losing ground as bullish momentum weakens, resulting in a 12% drop over two days. As of this writing, SPX was down another 0.50% on Friday.
The downward move is targeting the 50% Fibonacci retracement level at $1.02, drawn from the year-to-date high of $1.80 and low of $0.25. A clear break below this level could see SPX test the monthly low of $0.91.
The MACD indicator shows both the MACD and signal line declining toward the zero line, with red histogram bars emerging—signaling increased selling pressure. Meanwhile, the RSI is hovering near the midline, reflecting uncertainty in trend momentum.
If SPX manages to reclaim the 61.8% Fibonacci level at $1.21, it could attempt a rally toward the 78.6% level at $1.47.
Celestia Struggles to Break Out of Downtrend
Celestia saw a slight uptick in Friday trading after two days of intense selling erased its weekly gains. TIA was rejected from the resistance trendline of a descending channel, which connects the highs from May 14, June 11, and June 25.
The support trendline is formed by connecting the lows from May 17, May 31, and June 22. The current downtrend targets the monthly low of $1.31. A close below this level could see TIA test the support trendline near the psychologically significant $1.00 mark.
The MACD has failed to produce a clear buy signal, with the MACD and signal line converging and suggesting a return to downside risk. The RSI is floating at 33, just above oversold territory, indicating a bearish bias.
A daily close above the weekly high of $1.68 would break the upper trendline of the channel and could open a path toward the monthly high of $2.30.
Frequently Asked Questions
What caused the recent drop in altcoin prices?
The broader cryptocurrency market is experiencing a risk-off sentiment due to geopolitical tensions and macroeconomic factors, including upcoming policy deadlines. This has led to increased selling pressure across major altcoins.
How can investors identify potential support levels?
Support levels can often be identified using technical analysis tools like Fibonacci retracement, historical price levels, and trendline supports. These help traders anticipate where buying interest may return.
Is now a good time to buy altcoins like Pi or Celestia?
It depends on your risk tolerance and strategy. While some traders see dips as buying opportunities, others prefer to wait for clearer signals of trend reversal, such as a break above key resistance or improved momentum indicators.
What does RSI tell us about market conditions?
The Relative Strength Index (RSI) indicates whether an asset is overbought (above 70) or oversold (below 30). Values near 50 suggest balance, while movements toward extremes can signal potential reversals.
Can meme coins like SPX6900 recover quickly?
Meme coins are often highly volatile and influenced by social sentiment and broader market trends. While quick recoveries are possible, they are also prone to sharp declines when market sentiment turns negative.
Where can I learn more about trading cryptocurrencies?
You can explore more strategies and analytical tools to improve your understanding of market trends and technical indicators.