Ethereum price forms a double bottom while ETH targets $2,800

Pi Network (PI) trades above $0.2200 at press time on Monday, sustaining the 3.52% gains from Sunday. The announcement of Pi App Studio updates on Thursday aligns with the three-day recovery in PI token, with bulls aiming towards the 50-day Exponential Moving Average.  

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) begin the week on a cautious note, trading near their respective support levels. Market sentiment remains fragile following last week’s volatility, with BTC, ETH, and XRP correcting by nearly 10%, 14%, and 7%, respectively.

Aster (ASTER), Starknet (STRK), and Zcash (ZEC) trade in the green over the last 24 hours, struggling to retain gains while the broader cryptocurrency market is in the red. The technical outlook of Aster and Zcash remains mixed as bearish potential arises.

Strategy CEO Michael Saylor claims the company did not sell any of its Bitcoin, following rumours that the firm moved over 40,000 BTC across several wallets, according to the Arkham Intelligence dashboard.

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Bitcoin (BTC) market structure continues to deteriorate as the capitulation phase begins to take shape, with BTC sliding below $97,000 on Friday and extending losses to more than 7% so far this week.