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Cryptocurrencies Price Prediction: PI, Crypto & Monero – European Wrap 12 August

Cryptocurrencies Price Prediction: PI, Crypto & Monero – European Wrap 12 August
FXStreet TeamFXStreet TeamFXStreet

Pi Network Price Forecast: Pl nears key support amid bearish signals

Pi Network (PI) retraces under $0.4000 at press time on Tuesday, following its peak at $0.4661 on Sunday. The technical outlook suggests a bearish bias as trading volume decreases, with increasing chances of a 10% correction similar to the one seen in mid-July. 

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Crypto Today: Bitcoin, Ethereum, XRP trade broadly steady ahead of US CPI data

The cryptocurrency market is widely consolidating on Tuesday ahead of the release of the United States (US) Consumer Price Index (CPI) data. Bitcoin (BTC) holds above a key range support of $117,000 and $118,000 following the breakout to $122,335 on Monday. 

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Monero declines sharply on concerns about possible manipulation from Qubic Mining

Monero (XMR) price declines more than 7% on Tuesday, trading below $250 at the time of writing, after plunging over 11% last week. The privacy-focused cryptocurrency is facing heightened scrutiny from traders after Qubic Mining allegedly gained majority control of its hashrate, triggering fears of potential blockchain manipulation and undermining confidence in the asset’s security.

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