Crypto prices remained on edge last week as investors focused on Donald Trump and Xi Jinping’s actions. The two accelerated their Trade War, pushing the US dollar index (DXY) to its lowest level in over three years. Investors’ focus depends on this Trade War, as there will be no major economic data to watch. This article explores why Pi Network (PI), Zetachain (ZETA), and Melania (MELANIA) will be the focus of this week.
Pi Network (PI)
The Pi Network price has bounced back in the past few days, rising from a low of $0.4014 on April 5 to a high of $0.7480. This rebound happened after the token formed a falling wedge pattern, a popular bullish reversal sign.
The token has bounced back by over 80% from a low of $0.4015 in April to the current $0.75. It has moved above the 50-period moving average, a sign that bulls are now in control. At the same time, top oscillators like the Relative Strength Index (RSI) and the MACD have all pointed upward.
Therefore, the coin may keep rising this week as bulls target the key resistance point at $1, about 25% above the current level. A move above this target will point to a further upside to $1.7365, the 50% retracement point, which is about 135% above the current level.
However, the risk is that the Pi Network price has now formed a rising wedge pattern, which could derail the recovery.
Zetachain (ZETA)
Zetachain, a layer-1 network, will also be in the spotlight this week because of its token unlocks on Friday. The developers will unlock over $7.14 million worth of tokens, representing 4% of the float. These token unlocks will continue for a while since there are 780 million ZETA tokens in circulation against a total supply of 2.1 billion.
Zetachain’s token unlocks have contributed to its weak performance since its airdrop. ZETA price trades at $0.20, slightly above its all-time low of $0.1960.
Melania (MELANIA)
Melania Trump’s meme coin has been in freefall since its debut in January, crashing to its lowest level on record. It has plunged sharply, with its market cap moving from over $2 billion to just $74 million today.
The Melania meme coin will likely be in the spotlight this week as it delivers another unlock. The upcoming unlock includes $11 million worth of new tokens, primarily allocated to Melania Trump.
This is notable since on-chain data showed that Melania Trump recently sold tokens worth over $30 million. The outlook for the MELANIA token price is bearish, with the next target being $0.10.
Other Crypto to Watch This Week
The other top cryptocurrencies to watch this week will be Solana, Fartcoin, and ApeCoin. Solana price has jumped to $125 as some meme coins in its ecosystem jumped. Therefore, traders will want to see whether it will maintain the momentum. Fartcoin’s recent strong surge will draw attention, while ApeCoin will unlock a big token.
READ MORE: Ethereum Price Prediction: 3 Reasons ETH May Surge Soon
