Pi Network surged 16% on Wednesday fueled by Pi2Day celebrations, with bullish momentum aiming to surpass the $0.66 resistance level.
Kaspa shows steady gains as it breaks a key trendline, exiting its correction phase and targeting $0.090.
Bitget records its fourth consecutive bullish candle, approaching the 50% Fibonacci retracement level at $4.87.
As geopolitical tensions ease, the cryptocurrency market is experiencing a revival in risk appetite. Bitcoin (BTC) reached $108,000, creating favorable conditions for altcoins like Pi Network (PI), Kaspa (KAS), and Bitget (BGB), which have outperformed broader market recoveries.
Pi Network's Triangle Breakout Gains Momentum
Pi Network slightly retreated after a 16% surge, maintaining focus on its AI integration teaser. The uptrend overcame key resistance levels formed on May 22 and June 14, completing a descending wedge pattern supported by converging trendlines.
Key Levels:
- Resistance: $0.66 (May 17 low)
- Target: $0.8686 (May 21 high)
Technical Indicators:
- MACD: Buy signal (MACD line crosses signal line)
- RSI: Above 53, indicating growing bullish momentum
Potential Downside: A rejection at $0.66 may retest $0.5090 (June 21 support).
Kaspa Aims for Monthly High After Trendline Break
Kaspa extended its weekly recovery (+21%) with a fourth consecutive green candle, breaking a resistance trendline formed from May 12, May 22, and June 10 highs. The breakout suggests a reversal from its correction phase.
Key Levels:
- Immediate Resistance: $0.082 (June 16 high)
- Target: $0.090 (June peak)
Technical Indicators:
- MACD: Bullish crossover signals trend reversal
- RSI: At 47, nearing midline as selling pressure declines
Risk: Failure to breach $0.082 could trigger a pullback to $0.070.
Bitget Targets 50% Fibonacci Retracement
Bitget’s V-shaped recovery continues, with four straight bullish candles breaking a local resistance trendline. The 50% Fibonacci level ($4.87) is the next hurdle.
Key Levels:
- Resistance: $4.87 (50% retracement)
- Target: $5.84 (May high)
Technical Indicators:
- MACD: Fresh bullish crossover
- RSI: Rising from oversold territory
Caution: Rejection at $4.87 may revisit $3.91.
FAQs
Q: What’s driving Pi Network’s rally?
A: Pi2Day hype and AI integration speculation fueled the 16% surge.
Q: Can Kaspa sustain its breakout?
A: Yes, if it holds above $0.082, the next target is $0.090.
Q: Why is Bitget’s $4.87 level important?
A: It’s a 50% retracement level—a breakout could signal further upside.
Q: How does Bitcoin’s performance affect these altcoins?
A: BTC’s stability at $108,000 provides a bullish backdrop for altcoins.
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Disclaimer: This content is for informational purposes only. Consult a financial advisor before investing. CFD trading carries high risk.