The cryptocurrency market experienced a renewed wave of risk-off sentiment this week, triggering sharp corrections across multiple altcoins. Pi Network (PI), SPX6900 (SPX), and Celestia (TIA) were among the most affected, each recording double-digit losses over the past 48 hours. This pullback follows broader macroeconomic concerns, including geopolitical tensions in the Middle East and the approaching expiration of a 90-day tariff truce, contributing to investor caution.
Despite recent gains earlier in the week, all three assets are now struggling to maintain momentum as bearish pressure intensifies. Technical indicators suggest weakening bullish sentiment, with key support levels now under threat. Below is a detailed analysis of each project’s current price action, key levels to watch, and potential scenarios for recovery or further downside.
Pi Network Loses Momentum After Strong Weekly Gains
Pi Network (PI) has seen its upward trajectory stall, posting a 2% decline on Friday after an earlier 9% drop on Thursday. This brings its total correction to over 11% in just two days, erasing nearly all of the 28% gains it had accumulated earlier in the week.
Currently trading below the $0.66 resistance level—a key psychological and technical barrier—PI now faces increasing risk of testing lower supports. A breakdown could push prices toward the weekly low of $0.49, with the $0.50 level acting as a critical psychological floor.
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Technical Indicators Signal Bearish Shift
The momentum shift is clearly reflected in PI’s technical indicators:
- MACD (Moving Average Convergence Divergence): The MACD line is converging toward its signal line, with the green histogram bars shrinking. This indicates fading bullish momentum.
- RSI (Relative Strength Index): Dropped to 43, falling below the neutral 50 midpoint. This suggests growing bearish control and weakening buying pressure.
While short-term sentiment is bearish, a potential catalyst looms: rumors of a generative AI feature announcement expected this Saturday. If confirmed and well-received, it could reignite investor interest.
A sustained close above $0.66 could open the path toward $0.86—the previous swing high marked on May 21. Until then, traders should monitor volume and momentum for signs of stabilization.
SPX6900 Faces Critical Test Below $1.20
SPX6900, the meme-inspired token known for its volatile price action, has declined by 12% over two days. It continued slipping on Friday with a 0.5% drop, now trading under strong resistance at $1.21.
The current structure suggests a possible retest of key Fibonacci levels:
- 50% Fibonacci Retracement: At $1.02, derived from the YTD range between $1.80 (high) and $0.25 (low).
- 61.8% Level: At $1.21—critical for any bullish reversal.
- 78.6% Level: Targeted at $1.47 if bullish momentum returns.
Should SPX fail to hold above $1.02, the next major support lies at the monthly low of **$0.91**, which could become a make-or-break zone for short-term holders.
Mixed Signals from Technical Indicators
- MACD: Both MACD and signal lines are drifting downward toward zero, while red histogram bars are expanding from below zero—indicating rising selling pressure.
- RSI: Oscillating near 50, suggesting indecision in the market. While not yet bearish, the lack of upward momentum raises concerns.
A reclaim of $1.21 would be required to shift sentiment back in favor of bulls and potentially target $1.47.
Celestia Struggles to Break Free From Downtrend Channel
Celestia (TIA) showed minor recovery on Friday after two consecutive days of heavy selling pressure wiped out its weekly gains. However, price action remains trapped within a well-defined descending channel, formed by connecting highs on May 14, June 11, and June 25.
The lower boundary of this channel—drawn from lows on May 17, May 31, and June 22—is now being tested. A break below could expose:
- Monthly low at $1.31
- Long-term trendline support near $1.00, a psychologically significant level
Bearish Technical Setup Persists
- MACD: The MACD and signal lines are merging just below zero, failing to generate a bullish crossover. This increases the risk of renewed downside.
- RSI: Currently hovering at 33—just above the traditional “oversold” threshold of 30—indicating persistent bearish dominance but limited immediate downside acceleration.
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Bullish Reversal Scenario
For TIA to reverse course, it must close above $1.68**, the recent weekly high. Such a breakout would invalidate the current downtrend structure and potentially accelerate movement toward the **monthly high of $2.30.
Until that happens, traders should remain cautious and watch for volume confirmation before considering long positions.
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Frequently Asked Questions (FAQ)
Q: Why are Pi Network, SPX6900, and Celestia dropping simultaneously?
A: The synchronized decline is largely due to broader risk-off sentiment in the crypto market, driven by macroeconomic uncertainty and profit-taking after recent rallies.
Q: What is the next support level for Pi Network?
A: The immediate support is at $0.49–$0.50. A break below increases the likelihood of further downside toward previous lows.
Q: Can SPX6900 recover above $1.21?
A: Yes, but only with strong volume and positive market sentiment. Holding above $1.02 is essential before any meaningful rebound can occur.
Q: Is Celestia still a good long-term investment?
A: Despite short-term weakness, Celestia’s modular blockchain architecture remains innovative. Long-term viability depends on ecosystem growth and adoption beyond price movements.
Q: How reliable are Fibonacci levels in crypto trading?
A: Widely followed by technical traders, Fibonacci retracements often act as self-fulfilling support/resistance zones—especially when aligned with historical price points.
Q: What triggers a reversal in a descending channel pattern?
A: A confirmed close above the upper trendline—preferably with high volume—signals potential trend exhaustion and reversal opportunity.
Final Outlook: Volatility Ahead for Emerging Cryptos
The recent downturn highlights the sensitivity of emerging projects like Pi Network, SPX6900, and Celestia to broader market dynamics. While fundamentals may remain intact, technical structures currently favor bears.
Traders should focus on key levels:
- PI: Watch $0.50; break below invalidates short-term bullish bias.
- SPX: $1.02 is critical; hold for bounce potential toward $1.21.
- TIA: $1.31 support must hold to avoid test of $1.00 trendline.
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With potential catalysts on the horizon—from AI integrations to network upgrades—sentiment could shift quickly. However, until clear reversal patterns emerge, caution remains the best strategy in this high-volatility environment.