The crypto market bounced back during the weekend as investors reacted to the latest US consumer inflation report, which showed that prices rose at a slower pace than expected in January. Bitcoin price jumped to $70,000, while the market capitalization of all coins rose to over $2.4 trillion.
This article provides a forecast for some popular tokens like Pi Network (PI), Pepe Coin (PEPE), and Dogecoin (DOGE).
Pi Network price prediction: Technical analysis
Pi Coin price has rebounded in the past few days, moving from a low of $0.1280 last week to the current $0.20, its highest level since January 19. It has jumped by 50% from its lowest level this year, making it one of the top coins in the crypto industry.
Pi Network price rebounded as the developers pointed towards an upcoming network upgrade that will happen today, February 15, and others that will happen soon.
The token has also rebounded after it was added to Kraken’s listing page, meaning that it may be added this year. Such a move would be a major one as Kraken is one of the biggest crypto exchanges in the industry.
READ MORE: Pi Network Price Prediction After the $17 billion wipeout
Pi Network price has also rebounded as it nears the first-year anniversary of its mainnet launch. It has now moved above the 50-day Exponential Moving Average (EMA), while the Relative Strength Index (RSI) has jumped to 65.
The Average Directional Index (ADX) has risen to 62, a sign that the bullish momentum is accelerating. It is also nearing the important resistance level at $0.200.
Therefore, the most likely Pi Network price prediction is bullish, with the next key target level to watch being at $0.2170, its highest level in December last year.
Pepe Coin price prediction
Pepe, the top meme coin on the Ethereum network, has staged a strong rebound in the past few weeks, moving from a low of $0.0000031 on February 6 to the current $0.0000050 today. It has moved to the highest level since January 28.
The coin rebounded after forming a double-bottom pattern at $0.0000036 and a neckline at $0.0000072, its highest level in January this year. It rebounded after forming a falling wedge pattern, which is made up of two descending and converging trendlines.
The Relative Strength Index and the Percentage Price Oscillator (PPO) have continued rising, with the lines forming a bullish crossover pattern.
Therefore, the token will likely continue rising as bulls target the next key resistance level at $0.0000072, its highest level in January, which is about 45% above the current level. A drop below the key support level at $0.00000036 will invalidate the bullish outlook.
Dogecoin price prediction
Dogecoin price has rebounded in the past few weeks, moving from a low of $0.07963 in February to the current $0.1145, its highest level in January this year.
The token has formed a descending channel and is now trading at the 50-day Exponential Moving Average. Also, the two lines of the PPO indicator have made a bullish crossover pattern, while the Relative Strength Index has moved above the neutral point at 50.
More gains will be confirmed if the Dogecoin price bounces back above the upper side of the descending channel. Such a move will lead to more gains, potentially to the key resistance level at $0.1545.
The post Crypto price predictions today: Pi Network, Pepe Coin, Dogecoin appeared first on Invezz
