Cryptocurrencies in Focus: Key Events and Market Trends This week
This week, teh crypto market is set to be in the spotlight. Attention will be on the U.S.-China trade talks, new consumer inflation data, and the Consensus event in Toronto. Bitcoin and altcoins have seen a 20% rise from April lows, with the fear and greed index showing a bullish trend.
Key cryptocurrencies to watch include Pi Network, Ethereum, and Solayer. Ethereum’s price surged after the Pectra upgrade, introducing 11 enhancement proposals. ETH broke above the $2,132 resistance level, a bullish sign.Though, a retest of this level is absolutely possible before the uptrend continues.
Pi Network’s price reached $1.0670, up 158% from April lows. the Consensus event in Toronto may bring a major declaration, such as an exchange listing or project partnerships. this could push Pi Coin towards its $1.8 target.
Solayer, a Solana staking network, missed the recent rally, dropping to $1.2 from $3.35. A $32 million token unlock on Monday could impact its price. Token unlocks are generally bearish as they introduce new coins to the market.
Other tokens to watch for unlocks this week include Morpho, Aptos, Pendle, WhiteBit, and Arbitrum.These events could influence the broader crypto market.
