Crypto prices crashed on Monday as market participants remained concerned about the Liberation Day tariffs and their implications for the economy. The sell-off gained momentum after Goldman Sachs and JPMorgan raised their recession odds.
The crypto market may surge this week now that Trump has shown his willingness to talk with some countries as long as they are willing to end their non-tariff barriers. This article examines two altcoins, Pi Network and Hyperliquid, identifying one to buy and the other to avoid.
1 Crypto to Buy: Pi Network (PI)
Pi Network is one of the top crypto tokens to buy this week for two main reasons. First, as the weeks progress, there is a slim chance that a top tier-1 exchange will list it, a move that could push it significantly higher. Just recently, Orca price surged by over 200% in a single day after being listed by Upbit, a giant South Korean company.
Second, Pi Network’s price has solid technical indicators that may lead to significant gains in the near term. The chart below shows that it has been forming a falling wedge chart pattern since March 2, with the two lines converging. This pattern has driven a strong bullish breakout over the weekend.
Currently, the coin has formed a bullish pennant pattern with a vertical line and a triangle whose two lines are about to converge. Therefore, the token may see a significant bullish breakout this week. The key target to watch is $1.81, the 50% retracement point about 200% above the current level.
READ MORE: Pi Network vs Bitcoin: One is a Much Better Coin to Buy Now
1 Crypto to Sell: Hyperliquid (HYPE)
Hyperliquid, the significant perpetual exchange, is a top crypto to sell this week. Third-party data shows that its exchange volume has dropped by 15% in the last 30 days, and its monthly volume has also dropped for two consecutive months.
HYPE’s price also has weak technical indicators that point to further downside, even as it sits at a record low. It remains below the 50-period moving average. Most importantly, it is about to form a break-and-retest chart pattern, a popular bearish continuation indicator.
Recently, the token dropped below the key support at $12.12, the upper side of the inverse cup and handle pattern, another bearish signal. The token now aims to retest the current resistance at $12.12, which may lead to further declines in the coming weeks. Should this occur, the initial target becomes $9.22, followed by $8.00.
Summary
HYPE and Pi Network are two notable tokens in the crypto industry. Hyperliquid is known for its large market share, while Pi coin initiated the tap-to-earn industry. Although both are risky, Pi Network’s potential listing on a tier-1 exchange and promising chart patterns make it a more attractive option currently.
READ MORE: Top 3 Pi Network Rivals to Buy as the Pi Coin Price Sinks
