The sharp drop in Bitcoin $113,698’s (BTC) price from $120,000 to $113,000 has sent ripples throughout the cryptocurrency market. Despite this, XRP, Pi Coin, and Shiba Inu (SHIB) are indicating potential recovery in the coming week. Bitcoin’s market dominance, currently consolidating around 62%, provides a supportive backdrop for possible surges in altcoins. Experts suggest that if key technical levels hold, these three altcoins may convert recent challenges into opportunities.
ContentsXRP and Pi Coin’s Price ProspectsCrucial Levels for Shiba Inu XRP and Pi Coin’s Price Prospects
XRP’s price neared the 20-day simple moving average threshold of $3.2 before sellers seized an advantage, pulling the price back to $2.8. Buyers are defending support at the psychological $3 mark. If XRP stabilizes at this level, it could consolidate strength within the $3 to $3.33 range in the coming week. Otherwise, there remains a risk of decline to $2.66.
As for Pi Coin, a slip below the $0.38 breakout level nudged the price down to the 20-day average at $0.32. This band represents the first line of defense for buyers. A downward breakout might carry the price to $0.21, potentially delaying an upward scenario. However, reclaiming the $0.38 resistance could unlock an advance to $0.45.
Crucial Levels for Shiba Inu
Shiba Inu has depreciated by 27% over the past two weeks, falling to $0.00001179 and deepening its downward trend. Sellers concentrated around $0.000014, pushing the price below $0.000012, testing the lower end of a broad horizontal band. The immediate reactive support stands at the 50-day average of $0.00001016. A rebound from here could spur buyers to push the price above the 20-day moving average.
However, if SHIB’s price decisively dips below $0.00001016, a further decline to $0.000009 could be expected. Amid overall market cautiousness and Bitcoin’s inability to surpass the 63% market share threshold, altcoin investors find some breathing room.
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