Crypto prices bounced back on Thursday morning after Donald Trump showed flexibility and paused his Liberation Day tariffs as the stock market sank. That decision pushed stocks sharply higher and significantly lowered the odds of a recession in the US. This article looks at Solana, Pi Network, and DOGE and predicts what to expect ahead of the US Consumer Price Index (CPI) data.
SOL, PI, DOGE Forecasts Ahead of the US CPI
A Polymarket poll shows that the odds of a recession in the US plummeted to 49% from a high of 65% earlier this week. These odds dropped after Donald Trump paused his Liberation Day tariffs for over 70 countries, even as he raised China’s to 125%.
The next key macro data to watch will be the US consumer inflation data. Economists see the headline CPI coming in at 2.6%, a sign that inflation is falling. Such a report will likely lead to hopes that the Federal Reserve will slash interest rates more times than expected, a bullish catalyst for crypto prices.
READ MORE: Bitcoin Price Prediction: Technical Analysis Shows the BTC Targets
Solana Price Prediction
The Solana price bottomed at $95.70 this week as Bitcoin and most crypto prices plunged. As it dropped, it moved below the key support level at $120, where it had repeatedly resisted dropping below since last year.
Solana remains substantially below the 50-day moving average, which is still in a downtrend. However, it has formed a doji candlestick pattern, a popular bullish reversal sign.
Most importantly, the coin has been forming a falling wedge pattern shown in purple, with the two trendlines nearing their confluence. Therefore, a contrarian case for Solana can be made. The initial target is $150, which coincides with the 23.6% Fibonacci Retracement level. A drop below this week’s low of $95.70 will invalidate the bullish outlook.
DOGE Price Prediction
As most cryptocurrencies dived, the Dogecoin price has been in a strong bearish trend in the past few months. It dropped from a high of $0.4840 to a low of $0.1385 this week. On the positive side, the token has formed a small double-bottom pattern, with its neckline at $0.2025, its highest swing on March 26.
The DOGE price has formed a falling wedge chart pattern, with the two lines nearing convergence. Therefore, a confluence of the falling wedge and the double-bottom pattern signals more gains ahead. A more resilient bullish breakout will point to more gains, with the next point to watch being at $0.2820, the 50% retracement level.
Pi Network Price Technical Analysis
Pi Network token price has been in a strong bearish trend in the past few months as its mainnet launch became an anticlimax. It has slipped from a high of $3 in February to a low of $0.4155.
On the positive side, Pi has formed a falling wedge pattern (shown in blue) and is now in the process of forming a bullish flag pattern, characterized by a vertical rise followed by consolidation. Also, it has moved slightly above the 25-period moving average.
Therefore, the coin may be nearing a strong bullish breakout. The key level to watch is the psychological threshold of $1, 65% above the current level.
READ MORE: FLOKI Down 7% in a Week: Analysts Weigh Comeback Odds
