JPMorgan Chase, Bank of America, and Citigroup are preparing to launch a shared tokenized deposit network that is expected to go live in 2027, marking one of the most significant coordinated moves by major US banks into blockchain-based settlement infrastructure. According to a WSJ report , the project is being developed alongside other large financial institutions, including Wells Fargo, through The Clearing House, the US banking industry’s privately operated payments network. The system is expected to allow commercial bank deposits to be represented digitally on a shared ledger, enabling real-time transfers between participating banks without relying on traditional batch settlement cycles. A shared banking network built on tokenized deposits At the centre of the initiative is the concept of tokenized deposits, which are not new cryptocurrencies or externally issued stablecoins but rather a representation of existing commercial bank deposits in digital form recorded as liabilities on the balance sheets of issuing banks such as JPMorgan Chase or Bank of America. The planned network will allow these tokenized deposits to move instantly between institutions. If successful, transactions that normally take hours or even a full business day under legacy systems could be settled within seconds, operating continuously on a 24-hour, seven-day basis. The Clearing House will serve as the infrastructure operator for the system, extending its role in US payments clearing into a blockchain-based environment. This structure keeps the network inside the regulated banking system, rather than shifting transactions onto public crypto networks. A coordinated response to stablecoins and crypto payment rails The decision by major banks to build a shared tokenized system is closely linked to the rapid growth of blockchain-based payment instruments outside traditional finance. Stablecoins such as USD Coin and USDT have grown into widely used settlement tools in crypto markets, enabling fast and global transfers of dollar-denominated value without direct reliance on bank payment rails. Bank executives involved in the initiative have positioned tokenized deposits as a direct response to this trend. Instead of allowing deposit-based money to flow into external digital payment systems, banks are building their own blockchain-enabled infrastructure that retains funds within regulated institutions. Under the planned model, every tokenised deposit remains fully backed by actual bank deposits to keep the system aligned with existing regulatory frameworks and preserves the role of commercial banks as the primary custodians of dollar liquidity. Infrastructure design and institutional focus The network is being developed as a shared infrastructure layer rather than a consumer-facing product. Initial usage is expected to focus on large institutional clients, including multinational corporations and treasury departments managing high-volume cash flows. These users often move large sums across multiple banking relationships and jurisdictions. Under the current system, such transactions rely on correspondent banking networks and cut-off settlement windows. The new tokenised system is designed to remove these delays by enabling continuous liquidity movement across participating banks. The Clearing House has long handled high-value payment processing in the United States, but this expansion introduces a blockchain-based settlement mechanism into its core operations. The system is being described internally as a connective “bridge” between traditional banking ledgers and emerging digital settlement technologies. The network is currently under development, with industry-wide expectations pointing to pilot phases before broader deployment. The target launch timeline is set for the first half of 2027, although internal testing and phased integration across participating banks will likely take place beforehand. The post JPMorgan, Citi and BofA plan blockchain deposit network for 2027 appeared first on Invezz

2026-06-05 14:30

Pudgy Penguins (PENGU) has remained under pressure in recent trading sessions, with price action reflecting a clear risk-off mood across the meme and NFT sector. The token is currently trading around $0.006487, marking a 24-hour decline of 3.9%, with intraday movement ranging between $0.006294 and $0.006958. Despite the pullback, trading activity has stayed elevated, with 24-hour volume above $134 million, showing that market participation has not faded even as prices weaken. Airdrop report adds pressure to PENGU’s sentiment One of the main factors weighing on sentiment is a recent research finding from Delphi Digital published on June 4. Notably, during the research, Delphi studied Pudgy Penguins (PENGU), Uniswap (UNI), Arbitrum (ARB), Jupiter (JUP), Venice Token (VVV) , and Monad (MON) cryptocurrencies. The report highlighted that between 78% and 94% of wallets that receive airdropped tokens tend to sell within 90 days. Tokens sold after airdrops| Source: Delphi Digital This data has become a focal point in discussions around PENGU, given its distribution-heavy holder base. The implication is straightforward: large portions of supply tied to airdrop recipients tend to rotate back into the market quickly. This creates persistent sell pressure, especially when new demand fails to absorb supply at the same pace. For PENGU, this has translated into increased caution among traders who are now reassessing short-term holding behaviour. At the same time, the broader meme and NFT segment has also been weak, amplifying the impact of the report. When sentiment is already fragile, structural concerns about token distribution tend to accelerate downside moves rather than trigger isolated reactions. Pudgy Penguins ecosystem expansion Even with the negative price trend, development activity around Pudgy Penguins has continued to expand across multiple fronts. The project was recently added to the Keystone Nexus SPL asset list, improving its visibility within Solana-based infrastructure and expanding accessibility for users across supported platforms. Brand expansion has also moved outside traditional crypto channels, with the project recently securing a Las Vegas Sphere brand placement deal, a notable step toward mainstream exposure in a high-traffic entertainment environment. Alongside this, the community has pushed forward with global offline activations, reinforcing its attempt to build presence beyond digital markets. On the content and intellectual property side, Pudgy Penguins’ Chief Content Officer stated that the brand has generated approximately 100 billion GIF views, highlighting its reach across social platforms. The ecosystem has also expanded into gaming and collectibles through initiatives such as a trading card game championship and new story-driven content, while introducing gamified experiences under the “PENGU Pit” concept. Exchange listings and cross-chain accessibility improvements have also increased token availability across trading venues, supporting liquidity even during periods of price weakness. PENGU price structure points to a critical support zone From a technical perspective, PENGU is currently trading in a narrow range just above a key support area around $0.0060. Holding above this zone has historically supported consolidation phases, while breakdowns tend to accelerate downside movement. The token is currently trading below all exponential moving averages (EMAs) across short and longer timeframes, and most price projections are bearish. If selling pressure continues and the price fails to defend $0.0060, the next area of interest sits closer to $0.0055. PENGU price chart However, the RSI (14) is already in the oversold region, signalling a possible bullish pullback in the short term. If the pullback happens, the price would need to move above $0.00685 to signal a shift away from the current bearish structure. The post Pudgy Penguins (PENGU) price forecast: fundamentals point to a possible bounce back appeared first on Invezz

2026-06-05 13:25

Ethereum has been underperforming since the start of the week, losing 17% of its value over the last seven days. The decline comes amid a massive selloff in the broader cryptocurrency market . Ethereum has lost the $1,700 level, with the bears now targeting the $1,500 psychological level in the near term. However, the weekly chart is extremely bearish, with the liquidity magnet around the $1,380 zone. While it remains to be seen if Ethereum will drop to this April 2025 low, the technical indicators suggest that the bears are very much in control. Bitmine’s Tom Lee remains optimistic, predicts ETH at $250,000 Ethereum has been underperforming in recent weeks, but BitMine’s chairman, Tom Lee, is optimistic about its price in the long term. Bitmine is the leading corporate holder of Ethereum. However, due to the current bearish market, the company is sitting on nearly $9 billion in unrealized losses. https://twitter.com/WatcherGuru/status/2061949236715901326 Despite that, Tom Lee reiterated an ultra-bullish long-term outlook for Ethereum, projecting a potential price target of $250,000 for Ethereum. Speaking at the Proof of Talk conference in Paris, Lee argued that Ethereum is being underestimated by markets and that current pessimism may represent a strong long-term buying opportunity. Lee’s central thesis is that the next major phase of global economic activity will be driven by autonomous AI agents interacting in real time. He noted that Ethereum is best positioned to serve as this base layer due to its smart contract infrastructure and established developer ecosystem. Hence, Lee believes that Ethereum is not just a financial asset but a settlement currency for machine-driven economic activity. The Bitmine chairman also emphasized structural changes within the Ethereum ecosystem, noting that the Ethereum Foundation has reduced its holdings to a small fraction of the total supply. Ethereum price forecast: Bears extend the decline Ethereum is down 4% at the time of writing on Friday, maintaining a bearish bias amid its six-day decline. The ETH/USD weekly chart is bearish as Ethereum is trading well below the 50-day EMA around $2,116 and the 100-day EMA near $2,223, further reinforcing the overhead supply zone. Momentum indicators on the daily chart reinforce the bearish momentum. The RSI is deeply oversold at 29, and the MACD remains below its signal line, suggesting downside pressure dominates despite the risk of intermittent corrective bounces. At press time, ETH is trading at $1,682. It has already dropped below the February 6 low of $1,747, leaving it vulnerable to a decline towards lower support levels at $1,538 and $1,380, last visited in April 2025. However, if the minor $1,630 support level holds, Ethereum could recover and target the initial resistance at $1,835. A decisive break is needed above this level before Ethereum can reclaim the $2,070 resistance area. The post Can ETH bulls defend crucial $1,500 support as selloff deepens? Check forecast appeared first on Invezz

2026-06-05 13:08

The cryptocurrency market has continued its negative performance this week, with Bitcoin, Ethereum, and XRP extending their losses. Bitcoin briefly touched the $61,100 level, while Ethereum risks dropping below $1,500 in the near term. Meanwhile, Ripple’s XRP is trading around $1.11 on Friday, marking its lowest level since February 6 and extending its losing streak to six consecutive sessions. The decline reflects continued weakness across the broader crypto market amid heightened geopolitical uncertainty and fading investor confidence. XRP ETF inflow resumes, but price action remains weak Institutional flows into XRP investment products have flipped positive, with approximately $4 million in inflows recorded on Thursday. This was after $5 million in outflows were recorded the previous day. The outflow on Wednesday was the first one since April 30, indicating that institutional interest in XRP remains strong despite the current bearish price action. Cumulative figures still show strong longer-term participation. Total inflows into XRP ETFs stand at $1.5 billion, with assets under management above $1 billion. The shift suggests that the weak short-term sentiment among investors didn’t last, as they remain bullish on XRP. If the inflows persist, it could pave the way for XRP to rally higher once the market selloff ends. However, XRP is approaching the critical $1.0 support level, which could see it drop towards lower demand zones. Market participants continue to reduce exposure to risk assets as geopolitical tensions—particularly between the United States and Iran—fuel uncertainty across global markets. Due to the current macroeconomic conditions, investors are moving their funds away from volatile assets like cryptocurrencies and toward safer instruments such as bonds, gold, and cash equivalents. CoinMarketCap data reinforces this cautious positioning, with the Crypto Fear & Greed Index sitting at 17 (Extreme Fear), down sharply from 50 in May. XRP technical outlook: XRP remains under heavy selling pressure Similar to Bitcoin and Ethereum, the XRP/USD 4-hour chart is as XRP continues to trade below key long-term trend indicators, maintaining a clearly bearish structure. At press time, XRP is trading at $1.116, below the 50-day, 100-day, and 200-day EMAs. Meanwhile, the SuperTrend resistance sits at $1.34, capping recovery efforts in the near term. The technical indicators also showcase an oversold condition. The Relative Strength Index of 30 means that XRP has officially entered the oversold territory. The MACD histogram remains negative, confirming downward momentum. While oversold conditions may slow the pace of decline, they have not yet triggered a meaningful reversal. If the market conditions improve, the bulls would encounter the first major resistance at $1.34, which coincides with the Transactional Liquidity (TLQ) level on the 4-hour chart. A daily candle close above this level could see XRP target the higher resistance levels at $1.36 (50-day EMA), $1.44 (100-day EMA), and $1.64 (200-day EMA). A sustained recovery above these levels would be required to shift the broader bearish outlook. However, if the selloff persists, XRP could drop below the $1.0 psychological level. A decisive break below this level could pave the way for accelerated downside pressure in the near term. The post Why is XRP falling even as institutional ETF inflows turn positive? appeared first on Invezz

2026-06-05 12:54

Dogecoin has fallen more than 25% over the past month and has dropped to around $0.083 after breaking below key support levels as traders continue reducing exposure across derivatives markets. According to CoinGecko price data, Dogecoin traded near $0.083 on June 5 after losing 4.48% over the previous 24 hours. The meme coin moved between an intraday high of $0.091 and a low near $0.083, leaving price action near the bottom of its daily range. Weekly losses have reached 12.98%, while the token is down 54.78% over the past year. The meme coin moved between an intraday high of $0.091 and a low of $0.086, leaving it near the bottom of its daily range. Weekly losses have reached 12.98%, while the token is down 54.78% over the past year. Pressure on DOGE has intensified since it fell below the $0.10 level, a zone that previously acted as support. Market data shows the token is now trading beneath the $0.10 to $0.12 range that buyers defended earlier in May. At current levels, Dogecoin's market capitalization stands at $13.3 billion, keeping it ranked as the 11th largest cryptocurrency by market value. Circulating supply has reached 154.52 billion DOGE, closely tracking total supply as new coins continue to enter circulation through mining rewards. Dogecoin approaches key support as momentum weakens Technical indicators show Dogecoin sitting at an important decision point. Crypto analyst Ali Charts had identified $0.0883 as a key support level and projected potential recovery targets at $0.1019 and $0.1156 if buyers defended that area. https://twitter.com/alicharts/status/2058895357304607146 DOGE has since fallen below the analyst's support level and was trading near $0.083 at press time. "As long as this support holds, I think a recovery toward $0.1019 and $0.1156 remains likely," Ali Charts wrote. The analyst also warned that a break below $0.0883 could expose the next major supply zone near $0.067. With DOGE now trading below that support level, traders are watching whether sellers can extend the decline toward the analyst's downside target. Daily chart data shows DOGE extending its downtrend after losing the $0.10 level. Price has now fallen to around $0.083, placing the token below the $0.0883 support area highlighted by Ali Charts and leaving former support zones unclaimed. The token recently dropped toward $0.083 before attracting buyers, though the rebound failed to reclaim former support zones. DOGE/USDT 1-day price chart. Source: TradingView. Momentum indicators remain under pressure. The daily Relative Strength Index has fallen to around 21.5, placing DOGE deep in oversold territory. While such readings can precede short-term relief rallies, the daily MACD remains below its signal line and continues to print negative histogram bars, indicating bearish momentum remains intact. Short-term indicators tell a similar story. On the four-hour chart, the Stochastic RSI has dropped into oversold territory with readings near 2 and 17, suggesting selling pressure has become stretched. DOGE/USDT 4-H price chart. Source: TradingView. At the same time, the Chaikin Money Flow indicator remains below zero, showing capital continues to leave the asset despite occasional buying attempts. Ali Charts had previously highlighted support near $0.096 on June 1 after a TD Sequential buy signal appeared. DOGE has since broken below that level and continued lower, undermining the earlier bullish setup that pointed to a move toward $0.110. Derivatives traders cut exposure as crypto markets retreat Derivatives data from CoinGlass shows traders have become increasingly defensive as prices moved lower. Futures trading volume fell 7.89% to $2.1 billion, while open interest dropped 4.85% to $1 billion. When open interest falls during a selloff, it can indicate liquidations or traders closing leveraged positions as confidence weakens. Simultaneously, options volume jumped 171.59%, while options open interest climbed 42.23% to $600,650, suggesting some participants are positioning for larger price swings ahead. Market weakness in Dogecoin has developed alongside a broader decline across digital assets. Bitcoin has extended its recent slide while institutional investors continue withdrawing capital from spot Bitcoin exchange-traded funds. Traders are now watching whether DOGE can regain the lost $0.0883 support area after falling to roughly $0.083. According to Ali, holding this support could keep recovery targets near $0.1019 and $0.1156 in play. A break below the channel floor, however, could expose the next major supply zone around $0.067. The post Dogecoin plunges 25% in a week as bearish pressure grips crypto appeared first on Invezz

2026-06-05 12:38

Bitcoin slipped below $62,000 on Friday, briefly approaching the $61,000 level as weakening demand and rising selling pressure from short-term holders weighed on sentiment. The move comes amid a broader risk-off environment across global markets. The momentum indicators remain bearish, suggesting further selloff in the near term. Bitcoin demand continues to decline Bitcoin is down by more than 1% in the last 24 hours and is now trading above $62,000. The coin briefly touched the $61,100 level during the early hours of Friday but has now slightly recovered to above $62,000. The bearish performance comes amid a demand decline for Bitcoin. New on-chain data from CryptoQuant highlights a significant contraction in market activity, suggesting that overall demand for Bitcoin has deteriorated to its weakest point in the current cycle. The data revealed that spot demand has fallen to -272,000 BTC on a 30-day cumulative basis, while futures demand has dropped to -229,000 BTC. Thanks to this latest development, total demand contraction now sits near 501,000 BTC. The demand contraction indicates that selling pressure has consistently outweighed buying activity throughout most of the year, even during brief periods of institutional inflows. According to analysts, this decline is due to the negative macroeconomic conditions, including elevated bond yields, persistent inflation, and geopolitical uncertainty. In this environment, liquidity has reportedly shifted toward equities—especially tech and AI stocks—as well as forex and precious metals. On-chain behavior shows that short-term holders (STHs) have undergone one of the largest capitulation events of the year. The report highlighted that around 53,800 BTC were sent to exchanges at a loss, while inflows from profitable positions dropped to near zero. This pattern reflects growing panic among recent buyers as unrealized losses deepen. Historically, similar capitulation events have often appeared near local market bottoms, though analysts caution they are not reliable reversal signals on their own. Continued selling, however, could extend the correction if demand fails to recover. Despite that, the oversold conditions could indicate that the bottom is approaching. Market sentiment weakened further after Strategy disclosed its first Bitcoin sale in over four years, selling 32 BTC to fund preferred stock dividend payments. The company’s Bitcoin holdings are now facing an estimated $10.8 billion unrealized loss, according to market commentary. https://twitter.com/Kalshi/status/2062517164838363342 Bitcoin technical outlook: Bearish structure remains intact The BTC/USD 4-hour chart is extremely bearish as Bitcoin is trading below the 20, 50, and 100-day exponential moving averages. These averages form a resistance layer between approximately $72,900 and $75,800. Momentum indicators show deeply oversold conditions. RSI near 27, signaling extreme downside momentum, while the MACD lines are also in oversold territory While these readings suggest selling may be stretched, price action remains capped beneath major resistance. If the bulls regain control, initial resistance emerges around $65,103. An extended rally would allow BTC to rally towards the major resistance zones between $72,874–$75,796. However, Bitcoin has lost the $62,520 support level, and if the selloff continues, it could drop towards the $59,058 secondary support. A daily candle close below this support would expose the $55,770 deeper downside level. A sustained move back above the EMA cluster would be required to shift sentiment away from the current bearish bias. The post Will Bitcoin drop below $60K as market selling pressure intensifies? appeared first on Invezz

2026-06-05 11:53

Bitway (BTW) has emerged as one of the strongest-performing cryptocurrencies today after its price surged more than 233% in 24 hours, pushing the token to a new all-time high and drawing significant attention from traders. The rally saw BTW climb from a 24-hour low of $0.01196 to as high as $0.04572 before pulling back slightly. At press time, the token was trading around $0.0399, still holding onto most of its gains despite the slight pullback. The sharp price increase was accompanied by a major jump in trading activity. Daily trading volume reached nearly $44.9 million, an unusually high figure for the project and a sign that the move was supported by strong market participation rather than isolated buying activity. Now the question is why did the Bitway token price surge that much? Gate launched perpetual futures trading for Bitway (BTW) One of the biggest developments for Bitway came on June 4, when cryptocurrency exchange Gate launched perpetual futures trading for BTW. The exchange introduced the BTWUSDT perpetual contract , allowing traders to take both long and short positions with leverage ranging from 1x to 20x. Trading officially began at 13:00 UTC on June 4. The listing marked an important step for the BTW token by expanding the ways traders could gain exposure to it. Before the futures listing, participation was largely limited to spot trading, and the addition of leveraged derivatives created a new source of demand and significantly increased the token's visibility among active traders. Normally, perpetual futures products often attract larger trading volumes because they enable speculation on both upward and downward price movements. They also allow traders to use leverage, increasing the amount of capital that can enter a market over a short period. In Bitway's case, the market reacted almost immediately. Bitway token price prediction Following a move of this magnitude, attention has shifted toward whether BTW can maintain its gains. Market analysis highlights the area around $0.03 as an important support zone. The token's ability to remain above that level while maintaining elevated trading volume could determine whether the rally develops into a period of consolidation or continues higher. The main risk facing the market is a sharp decline in trading activity. If volume begins to fade significantly, some traders could decide to lock in profits after the recent rally. At the same time, the market is overstretched following the sudden price surge. In that scenario, the $0.025 to $0.028 range is the potential area where the price could stabilise during a correction. For now, however, the focus remains on the impact of the Gate futures launch and the unusually strong volume that accompanied it. Together, those factors helped transform Bitway from a relatively quiet token into one of the cryptocurrency market's biggest gainers over the past 24 hours. The post Here’s why the Bitway token just exploded 233% appeared first on Invezz

2026-06-05 11:31

Zcash's ZEC token has fallen more than 36% from recent highs after developers disclosed a critical vulnerability in the network's Orchard shielded pool, pushing the cryptocurrency toward a key long-term support area around $367. According to information released by Shielded Labs and the Zcash Open Development Lab, security engineer Taylor Hornby discovered the flaw on May 29 and reported it to developers, who responded with an emergency hard fork activated on June 3 to eliminate the risk. The disclosure has nevertheless triggered a sharp market reaction. ZEC traded near $390 on Thursday after briefly changing hands above $611 earlier this week, wiping more than $3 billion from its market capitalisation. Data shared by Shielded Labs showed the vulnerability affected the cryptographic circuit underlying the Orchard privacy pool. Hornby, assisted by Anthropic's Claude Opus 4.8 model, identified a flaw in an elliptic curve multiplication check and successfully built a proof-of-concept exploit capable of generating counterfeit ZEC. Researchers at Shielded Labs said that if the same exploit had been executed on the live network before the patch, it could have produced "unlimited, undetectable counterfeit ZEC" inside an Orchard wallet. Traders focus on support levels after selloff Although developers have fixed the vulnerability, uncertainty remains because Orchard's privacy design makes it impossible to cryptographically prove whether the flaw was exploited before disclosure. Shielded Labs stated that it is "not overly concerned" about prior abuse because the bug survived years of expert review and required a highly targeted investigation using advanced tools and artificial intelligence to uncover. Even so, traders appear focused on downside risks. Market data shows ZEC has broken below its 20-day, 50-day and 100-day exponential moving averages following the disclosure. ZEC/USDT 1-day price chart. Source: TradingView. The next major technical level sits near the 200-day exponential moving average around $367, a region that also aligns with a historically high-volume trading zone on the volume profile. Momentum indicators have also weakened. Daily RSI has dropped to roughly 37, its lowest level in several weeks. ZEC/USDT 1-day price chart. Source: TradingView. Although the reading has not yet entered oversold territory below 30, it shows that selling pressure remains elevated after the Orchard disclosure. The Bollinger Bands also show how stretched the move has become, with ZEC pressing near the lower band after losing the middle band during the selloff. The lower band sits near the high $300s, close to spot price, while the upper band remains far above current levels after the recent spike above $600. Combined with an RSI near 37, the setup shows heavy downside momentum. CoinGlass liquidation data indicates that much of the leveraged long positioning has already been cleared out during the decline. ZEC 24-hour liquidation heatmap. Source: Coinglass. Remaining liquidation clusters are concentrated above the current market price, particularly between $430 and $500, with larger pockets extending toward the $550 region. Those levels could attract price if buyers return, though current market attention remains fixed on whether the $367 area can hold. Beneath the current trading range, volume profile data indicates another historically active trading zone between approximately $220 and $260, where ZEC spent several months consolidating earlier this year. If the $367 region fails to hold, traders could begin monitoring that lower volume cluster as the next major area of historical support. However, not everyone believes the worst-case scenario occurred. Arthur Hayes, co-founder of BitMEX, said on Friday that illegal minting of ZEC through the Orchard flaw was unlikely, although he acknowledged there is no formal cryptographic proof that it never happened. "Sadly, due to the Orchard Pool exploit, I had to dump our entire ZEC bag," Hayes wrote on X. "The Holy Trinity is dead," he added, referring to Zcash, Hyperliquid and Near Protocol, which he said he had sold this week. Industry participants noted that similar risks have appeared before across privacy-focused systems. Mert Mumtaz, co-founder and chief executive officer of Solana infrastructure company Helius, said variants of the same issue exist across many privacy protocols because complex zero-knowledge circuits can contain bugs that are difficult to detect. "This same FUD comes back every five months as new people learn how privacy pools work," Mumtaz wrote. The current incident is not the first counterfeiting-related concern for Zcash. In 2018, the Electric Coin Company discovered a vulnerability in the cryptography underpinning zk-proofs and later remediated the issue without any known losses. As questions linger over whether the Orchard flaw was ever exploited, Shielded Labs said it is working with Zcash developers on a network upgrade that would allow users to verify the integrity of the circulating ZEC supply and prove the absence of counterfeit coins in the Orchard pool. The post Zcash crashes 36% on Orchard vulnerability, traders eye $367 support appeared first on Invezz

2026-06-05 08:54

The crypto market remained on edge today, June 5, with Bitcoin and most altcoins being in the red. The valuation of all coins retreated by 1.68% in the last 24 hours to $2.1 trillion. This article provides a forecast for top tokens like Zcash (ZEC), Cardano (ADA), and Pi Network Coin (PI). Zcash price technical analysis Zcash price has slumped in the past few days, moving from a high of $685 on May 20th to the current $400. It has slumped in the past two consecutive days, erasing millions of dollars in value. This retreat happened as the privacy token formed a head-and-shoulders pattern, a common bearish reversal sign in technical analysis. It has slumped belows the Major S/R Pivot Point of the Murrey Math Lines tool. It is now hovering at the Strong, Pivot, Reverse level. The coin has already moved below the 50-day moving average, a sign that bears have prevailed. Also, the Average Directional Index (ADX) has continued to rise this week. Therefore, the token will likely continue falling as sellers target the psychological support at $300. However, on the positive side, it is likely forming the handle section of the cup-and-handle pattern, which normally leads to a rebound. Pi Network price chart | Source: TradingView Cardano price prediction Charles Hoskinson’s Cardano token remains under intense pressure this week as the crypto market crash intensifies. It dropped below the important support level at $0.2330, its lowest point in December 2022, June 12, and September 2023. Losing that support was a sign that bears have prevailed. The token has now crashed to a record low and has remained below the 50-day moving averages. Also, the momentum is accelerating amid the broader market weakness, while the coin has formed a head-and-shoulders pattern. Coupled with its weak fundamentals, where Cardano is widely seen as a ghost chain, we can predict that the token will continue falling. If this happens, it will drop below the key support level of $0.100. Cardano price chart | Source: TradingView Pi Network price prediction Pi Network, a top and viral cryptocurrency, has slumped in the past few months and is now is at its record low. While Pi has been slumping since its mainnet launch in February last year, the current phase of decline started in March after the Kraken listing . Data shows that this listing has not led to substantial demand from American investors. Other initiatives have also not worked out well. For example, the developers have continued to push network upgrades, which will lead to the launch of smart contracts. They also made some AI-focused upgrades and improvements this year. Pi Network price chart | Source: TradingView The chart shows that the Pi Network price has crashed below the Strong Pivot Reverse level of the Murrey Math Lines. It has also dropped below the 50-day moving average, while the Relative Strength Index has slumped. Therefore, the coin will likely continue moving downwards in the coming days, potentially to the key support level at $0.100. The post Top crypto price predictions: Zcash, Cardano, Pi Network appeared first on Invezz

2026-06-05 06:31