Pi Network, SPX6900, and Celestia Tumble as Altcoin Market Sees Double-Digit Losses - Cryptured.com

The retreat from Thursday has continued as Pi Network (PI), SPX6900 (SPX), and Celestia (TIA) have all experienced double-digit losses in the past day.

In addition to the 90-day tariff break that is about to expire in two weeks, the ongoing risk aversion in the cryptocurrency market that causes abrupt pullbacks may be caused by shifting Middle East tension dynamics.

Weekly gains could be lost by Pi Network

At press time on Friday, Pi Network continues its 9% decline from the day before, edging down by 2%. After reversing from the $0.66 resistance level earlier this week, PI runs the risk of losing the 28% gains.

The psychological support level of $0.50 could be at risk if the correction becomes more severe and tests the weekly low at $0.49.

The bullish bias of the momentum indicators is lost: As the green histogram bar weakens, the Moving Average Convergence/Divergence (MACD) indicator gets closer to its signal lines.

The Relative Strength Index (RSI) shows a decline in bullish momentum when it reverses to 43 and falls below the halfway line.

However, a closing over $0.66 might continue the upward trend to the $0.86 level, which was the high on May 21, given the possible announcement of Generative AI features on Saturday.

SPX6900 meme coin could break under $1

As bullish enthusiasm wanes, the SPX6900 meme coin loses ground, plunging 12% over two days. The SPX continues its decline by 0.50% on Friday as of this writing.

In the MACD indicator, red histogram bars increase from the same line, signifying a supply spike, while the MACD and signal lines decline towards the zero line. However, the RSI’s oscillations close to the midway line indicate that the trend momentum may not be guaranteed.

The 78.6% level, which indicates an uptrend to $1.47, may be reached if SPX recovers the 61.8% Fibonacci level at $1.21.

Celestia Struggles to Escape Downward Channel

The weekly gains are erased as Celestia slightly rises at the time of writing on Friday following two days of heavy selling. The resistance trendline of a falling channel, which was created by joining the dots on May 14, June 11, and June 25, was where the TIA reversed.

A possible closure below this might test the support trendline near the $1.00 round figure, while Celestia’s downward trend aims for the monthly low of $1.31.

Due to the merging of the MACD and signal lines and the possibility of reverting to a descending trend, the MACD indicator is unable to detect a clear buy call. The oversold borderline is above the RSI at 33, indicating a negative bias.

The overhead trendline will be broken by a possible closing above the $1.68 weekly high, though, and the trend may continue to the $2.30 monthly high.