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Cryptocurrency prices saw a decline last week as investors opted to lock in profits. Market participants are now closely monitoring the upcoming U.S. consumer inflation data, which is expected to influence the Federal Reserve’s next steps on monetary policy. A lower-than-anticipated inflation figure could prompt discussions around interest rate cuts, impacting major cryptocurrencies like Bitcoin (BTC) and altcoins. Among the digital assets to watch this week are Flare (FLR), Aptos (APT), and Pi Network (PI).

Flare (FLR)

Flare, a rapidly evolving layer-1 blockchain network, is drawing attention as it prepares for a significant token unlock worth over $35 million on Monday. The network’s ecosystem has shown remarkable growth, with its total value locked (TVL) climbing to $188 million—up from $51 million in January. Additionally, its stablecoin market capitalization has surged to $150 million, compared to just $5.2 million in May.

From a technical analysis perspective, the daily chart reveals that the FLR token has been in a consolidation phase over the past few weeks. It has declined from a recent high of $0.02220 to approximately $0.018. Notably, the token has formed a falling wedge pattern, which is often considered a bullish reversal signal. If this pattern holds, FLR could see a breakout targeting $0.0220.

Key Metrics for Flare:

  • TVL Growth: $188 million (up from $51 million in January).
  • Stablecoin Market Cap: $150 million (up from $5.2 million in May).
  • Technical Target: $0.0220 based on the falling wedge pattern.

Aptos (APT)

Aptos, another prominent layer-1 blockchain, is also in the spotlight this week due to a scheduled token unlock worth $53 million, equivalent to 1.8% of its circulating supply. Additionally, the network’s stablecoin market cap has reached an all-time high of $1.32 billion, signaling growing activity within the ecosystem.

On the technical front, the APT token has been in a pronounced downtrend, trading within a descending channel. The token has fallen below its 50-day Exponential Moving Average (EMA), with both the MACD and Relative Strength Index (RSI) pointing downward. Despite the bearish sentiment, there is potential for a rebound to the upper boundary of the range at $6. However, a breach below the lower end of the channel could see the token drop further toward $3.5.

Key Metrics for Aptos:

  • Stablecoin Market Cap: $1.32 billion (all-time high).
  • Technical Range: $6 (upper range) and $3.5 (lower range).
  • Indicators: Bearish MACD and RSI trends.

Pi Network (PI)

Pi Network is another cryptocurrency to monitor closely this week. The network plans to continue unlocking over 68 million tokens, which will increase the circulating supply. This event could impact the token’s price dynamics in the short term.

From a charting perspective, the PI token has formed a slanted triple-bottom pattern alongside a bullish divergence on the eight-hour chart. These patterns often precede a bullish breakout, making PI a key token to watch for potential upward momentum in the coming days.

Key Metrics for Pi Network:

  • Token Unlock: Over 68 million tokens being released.
  • Chart Patterns: Slanted triple-bottom and bullish divergence.
  • Potential Breakout: Likely in the near term based on technical indicators.

Other Cryptocurrencies to Watch

In addition to the tokens mentioned above, other notable cryptocurrencies to keep an eye on this week include Ethereum (ETH), Kekius Maximus, and Official Trump (TRUMP). Ethereum, in particular, has formed a bullish flag and a golden cross, which are strong indicators of a potential rebound.

The evolving cryptocurrency market offers diverse opportunities for both seasoned investors and newcomers. Staying informed about token unlocks, technical patterns, and macroeconomic events is crucial for making well-informed decisions.

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