crypto Market Faces Turmoil Amid Geopolitical Tensions and Fed Decision
The crypto market is experiencing heightened volatility due to rising geopolitical risks and the Federal ReserveS decision to keep interest rates steady for the sixth month. Bitcoin’s price dropped from its peak of $111,695 in may to under $102,000 on June 22, causing panic among investors.
Several altcoins also suffered significant losses. Notable drops include AB, SPX6900, Fartcoin, Virtuals Protocol, Sonic, and Story, all falling over 20%. This decline reflects the broader market uncertainty.
Key altcoins like Solana, Axelar, and pi Network are drawing attention this week. These tokens face major token unlocks and critical technical setups, presenting both risks and opportunities for traders.
Solana is set for a $255 million token unlock on monday. Historically, such events can be bearish as they increase supply. Though, Solana’s price chart shows a bullish flag pattern, suggesting a potential rebound.If this pattern holds,Solana could climb to $187.30, a 40% increase from current levels. Solana could see a price surge if the bullish flag pattern holds.Conversely, Axelar might face further declines, trading below key support levels. A token unlock worth $5.4 million on Friday could push Axelar lower, with the next support level at $0.2740. this unlock event may pressure the price, but a bullish flag pattern hints at a possible recovery. The token’s price could rise if it breaks above the flag’s upper boundary.
Axelar’s price has been falling, moving from $0.6291 to $0.3464.The token unlock on Friday may deepen the downtrend. Traders should watch for a drop to $0.2740. The network’s price action indicates a bearish trend, with the next key level at $0.2740. The network’s price is below the 50-day moving average, signaling continued weakness. The network’s price could fall further if it fails to hold above this level.
Pi Network is preparing for Pi Day 2 on June 28. The event includes developer updates and the end of a popular domain auction. Positive news could boost Pi Network. The event might drive the price up, depending on the announcements.
Founded by Qualcomm’s Anatoly Yakovenko, Solana’s price could rise if it breaks the flag’s upper limit.
Meanwhile, Pi Network’s Pi Day 2 event on June 28 could bring good news, sparking a rally. The event may attract buyers if developers unveil exciting features.
Geopolitical tensions and the Fed’s rate freeze have fueled the sell-off. The pi Network’s Pi Day 2 could bring optimism. A bullish wedge pattern on its chart suggests a price rise. the event may drive interest in the coin.
Understanding these tokens requires monitoring technical signals and upcoming events. Solana’s unlock might weigh on its value.Yet, a bullish flag pattern suggests a price boost. The Pi Network’s Pi day 2 could drive interest. The auction’s conclusion and new developments could reinvigorate the coin. The auction’s end and new features could re-energize the coin. The Pi Network’s price could surge if the auction ends positively. The auction’s conclusion and new features could re-energize the
