Cryptocurrencies had another difficult week as the fear and greed index retreated while the VIX index jumped. Bitcoin retreated from last week’s high of $70,000 to $65,000 before bouncing back to $67,000. Similarly, Solana moved from $200 to $170 while the total market cap of all cryptocurrencies dropped to $2.5 trillion. Here is a prediction of IOTA, Polkadot, and Pi Coin.
IOTA price prediction
IOTA, one of the best-known cryptocurrencies, had a difficult performance this week. After soaring to a high of $0.4210 on March 14th, the coin has plunged by almost 30% to the current $0.3018. Its price action has tracked that of Bitcoin.
IOTA has moved below the crucial level at $0.3720, the highest swing on December 4th and the psychological level at $0.3500. It also fell below the support at $0.3275, the highest swing on December 30th.
On the positive sign, despite the ongoing crash, the coin has remained constantly above the 100-day and 100-day Exponential Moving Averages (EMA).
Therefore, there is still hope that the IOTA token will bounce back in the coming days as the enthusiasm about Bitcoin halving continues. This rebound will be confirmed if the coin rebounds above the resistance points at $0.327 and $0.3720.
Polkadot price forecast
Polkadot price has also come under intense pressure in the past few weeks as the recent momentum has faded. The DOT token dipped from the year-to-date high of $11.90 to a low of $8.48. It slipped below the key support levels at $10 and $9.61, the highest swing on December 26th.
Like IOTA, Polkadot has remained above the 100-day and 200-day Exponential Moving Averages (EMA). It has also moved slightly below the crucial support level at $8.55, the lowest swing on March 20th.
Oscillators like the Relative Strength Index (RSI) and the Stochastic have all pointed downwards. Therefore, technically speaking, the token will likely continue falling as the recent momentum fades. If this happens, it will drop to the key swing at $6, the lowest point on January 23rd.
Pi Coin prediction
Unlike the Polkadot and IOTA tokens, the Pi Coin token is not yet available in the market since it still remains in an enclosed mainnet. The closest token to look at is the Pi token, which was controversially listed by several exchanges like BitMart, Gate.io, and HTX. This token was, nonetheless, disowned by the Pi Network developers.
The main Pi Coin is yet to be listed. However, as I have written before, the management has noted that the listing could happen this year if it achieves three key goals. First, they need to complete the KYC process to prevent bots in the network.
Further, the developers want to ensure that the Pi Coin has enough utility. They are doing that by having hackathons to encourage developers in the network. Finally, the market conditions will need to be right for the listing to happen.
The Pi Network token listed by Bitmart soared to a high of $136 in March but has now plunged below $40. This performance happened because of the recent pump and dump in the crypto industry.
The token has minimal volume and is consolidating at the 50-day and 100-day Exponential Moving Averages (EMA). Its RSI has also retreated below 50. Therefore, the outlook for this token is bearish, with the next support level to watch being at $25.
