Cryptocurrencies Price Prediction: Litecoin, Pi Network & Ethereum — Asian Wrap 26 June
|Litecoin Price Forecast: LTC holders’ profit-taking activity reaches three-month high
Litecoin (LTC) is stabilizing at around $85 at the time of writing on Thursday, having recovered 6% so far this week. On-chain data indicate early bearish signals for LTC as holders’ profit-taking activity reaches a three-month high and dormant wallets’ activity increases, signaling growing selling pressure. Additionally, a specific whale has offloaded 340,000 LTC tokens, signaling a bearish outlook for its price.
Pi Network softens marginally at press time on Thursday following the 16% jump the previous day. The recent buzz aligns with the Pi Network team's teasing of generative AI integration, as reported by FXStreet. Amid the uptrend, Pi Network surpasses a critical resistance level formed by peaks on May 22 and June 14. Adding to this, a converging support trendline extrapolated over May 17, May 31, and June 17 completed a falling wedge pattern.
Ethereum Price Forecast: Bitcoin miner pivots to ETH treasury strategy
Ethereum (ETH) is down 1% over the past 24 hours following Bitcoin (BTC) miner Bit Digital's (BTBT) announcement on Wednesday that it's pivoting toward an ETH staking and treasury strategy. After two consecutive days of recording gains following the Israel-Iran ceasefire, bulls have lost steam as Ethereum registered the 1% decline. The decline was spurred by a rise in Ethereum's exchange reserve, indicating low demand and a modest increase in the sell-side pressure.
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