It was a sea of red in the crypto market as Bitcoin and most altcoins plunged. This plunge happened as investors positioned themselves for the new crypto winter since June is one of the worst months in the industry.
Crypto prices also dropped because of the ongoing Donald Trump and Elon Musk fallout, and the rising trade tensions. This article provides a forecast for some top cryptocurrencies like Zebec Network (ZBCN), Shiba Inu (SHIB), and Pi Network (PI).
Zebec Network price analysis
Zebec Network is a crypto project that aims to disrupt the financial service industry using the blockchain technology. It has a few solutions in its platform. WageLink is a payroll processing solution that is supercharged by blockchain. It helps companies pay their employees, including those in foreign countries.
Zebec Network has introduced Mastercard cards that enable users to pay using crypto globally. Most recently, Zebec acquired Science Card, a UK payment company with over 50,000 users. It also acquired Gatenox this week as it continues to boost its portfolio.
🚨 Zebec Network has acquired @Gatenox — bringing native KYC, KYB, and AML directly into our infrastructure to enhance Zebec AI’s existing real-time screening. Built to serve the evolving needs of both Web3 and traditional finance. ⛵️
The Zebec Network price came into the spotlight recently as it surged from a low of $0.0007025 to a high of $0.0072, a 893% surge. This surge accelerated after the Science Card buyout and after the coin remained in a tight range for months. This consolidation was part of the formation of the accumulation phase of the Wyckoff Theory.
The surge was the markup phase, which is characterized by high demand and low supply. It has now moved to the distribution and markdown phase.
The most likely scenario is where the ZBCN price continues falling to the important support level at $0.003340, the highest swing in April last year, followed by $0.0021, its highest point in February.
Shiba Inu price analysis
The Shiba Inu price jumped to a high of $0.00003345 in November last year, mirroring the performance of most altcoins. It then plunged by about 70% to a low of $0.000010 as the crypto market plunged and as focus shifted to Solana meme coins.
Shiba Inu token attempted to recover this year, but found resistance at $0.0000176. It has now plunged to $0.00001200.
This decline happened after the coin formed a rising broadening wedge pattern. This pattern is made up of two ascending and broadening trendlines. It has now moved below its lower side and moved below the 50-day and 100-day Exponential Moving Averages (EMA).
The Relative Strength Index (RSI) and the MACD indicators have all pointed downwards. Therefore, the most likely scenario is where it crashes and moves to a low of $0.00001015, the lowest swing in April.
Pi Network price analysis
The Pi Network price has plunged in the past few weeks as demand for the coin has plunged. It initially soared to a high of $1.6783 last month as investors waited for much-awaited news. This news was the launch of the Pi Network Ventures, which will provide $100 million to companies building on the platform.
Pi Network price has plunged to $0.60, where it has found substantial support. This price coincides with the ascending trendline that connects the lowest swings since April last year.
It has formed a triple-bottom pattern whose neckline is at $1.6783. This pattern often leads to a strong bullish breakout. Therefore, the coin’s outlook is moderately bullish as long as it remains above the ascending trendline.
If this happens, the next point to watch will be the psychological point at $1, followed by the neckline at $.6783. A move below the ascending trendline will invalidate the bullish Pi Network forecast.
Read more: Pi Network price prediction: Top 3 reasons Pi Coin will surge soon
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