Over the last seven weeks, the cryptocurrency market has shown a downtrend. We'll examine the current state and forecasts for four key coins: BTC, XRP, PI, and SOL.
Bitcoin (BTC) Price Analysis
Bitcoin continues to exhibit a downward trend after its $109,000 peak in late January. However, the bulls are defending the lower descending channel trendline, which might lead to attempts to push the price towards $87,735, provided the $76,000 support zone is held.
Ripple (XRP) Price Analysis
XRP is facing a bearish trend, testing support at $2. If this level fails, a drop to $1.62 is possible. However, there is potential for a rally towards $2.35.
Pi Network (PI) and Solana (SOL) Price Analysis
PI shows strength following its recent launch, breaking through the upper trendline of a triangle, possibly targeting $2. Solana, meanwhile, is in a downtrend but its current support might aid in pushing its price back toward $144 if it holds.
The cryptocurrency market remains volatile, but current observations indicate potential directions for key assets. Monitoring changes in investor sentiment and new support and resistance levels is important.
