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Cryptocurrencies Price Prediction: PI, Cardano & Bitcoin – European Wrap 31 July

Cryptocurrencies Price Prediction: PI, Cardano & Bitcoin – European Wrap 31 July
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Pi Network price forecast: PI struggles near $0.40 amid token unlock fears

Pi Network (PI) loses steam on Thursday, trading below $0.4200 at the time of writing, falling from a daily high of $0.4364 earlier in the day. The bearish grip on PI, which has been on a clear downtrend since mid-May, tightens ahead of the 160 million token unlock in August and the delay in PI integration by Onramp Money, tilting the technical outlook bearish. 

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Cardano Price Forecast: ADA targets wedge breakout as bullish bets rise, $8.57 million in shorts at risk

Cardano (ADA) edges higher by nearly 3% at press time on Thursday, inching closer to the $0.8000 level. The derivatives data indicate an increase in long positions, putting $8.57 million of short positions at risk, while the technical outlook suggests ADA could continue to rise within a wedge pattern. 

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Bitcoin Price Forecast: BTC extends consolidation as whale buying, regulatory clarity boost sentiment

Bitcoin (BTC) price is trading above $118,500 at the time of writing on Thursday, continuing a consolidation phase that has been underway for the past 16 days. Despite the lack of a clear price direction, on-chain data shows some signs of optimism for the largest cryptocurrency as large-wallet holders' accumulation increases and Over-The-Counter (OTC) balance has reached record lows. 

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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