The crypto market this week depends on the U.S. Consumer Price Index (CPI) report, which may influence Federal Reserve interest rate choices and trigger significant price fluctuations.
As inflation figures are anticipated to display slight increases, investors are looking at possible rate reductions that might enhance bullish momentum.
In this context, three tokens—Pepe (PEPE), Aptos (APT), and Pi Network (PI)—are notable for their unique technical configurations and market drivers.
Pepe’s significant whale accumulation and optimistic patterns related to Ethereum’s rise, alongside Pi Network’s bounce at vital support points, and Aptos dealing with token unlock challenges in a downward channel, reflect the main themes and risks influencing crypto trading this week
Pepe
Pepe is a cryptocurrency to monitor this week as Ethereum’s price rise persists, whale accumulation continues, and an ascending triangle pattern develops.
Whales possess 9.02 trillion Pepe coins, marking a 10% rise over the past month, as exchange balances have plummeted. Simultaneously, Ether has surged past $4,000, a pattern that could persist throughout this week. Pepe and various ERC meme coins typically perform strongly when Ethereum increases.
The daily timeframe chart indicates that Pepe has surpassed the 50-day and 100-day moving averages. It has additionally created an ascending triangle formation, which typically results in a significant breakout. A rise past the resistance at $0.000014 will indicate further increases
Pi Network
This week, Pi Network is a key cryptocurrency to monitor as it has bounced back to an important resistance threshold. Following a drop to a record low of $0.3198 on August 2, it has risen to $0.400.
The present price is significant as it aligns with the lowest fluctuations observed in April and June of this year. Pi Coin is also trying to break above the 50-period moving average and is at the apex of the descending wedge pattern.
Consequently, it is probable that the token will experience a bullish breakout, with the following level to observe being $0.6732, its peak in June. A decline beneath the support level at $0.3198 will nullify the optimistic Pi prediction.
Pi Network value
Aptos
Aptos will be a significant cryptocurrency to monitor this week as the network releases tokens valued at $53.95 million, representing 1.68% of the floating supply. APT will see additional unlocks in the future since only 51% of the tokens have been made available.
The daily chart indicates that the APT price has faced pressure over the last few years. It plummeted from a peak of $15.2 in December to the present $4.60
Recently, the token has established a descending channel and sits just below the 50-day and 100-day moving averages. Consequently, the token is expected to continue the decline and reach the bottom of the channel at $4