Cryptocurrency prices rallied last week as U.S. President Donald Trump said, without citing examples, that trade talks with other countries were taking place.
Bitcoin jumped above $95,000 for the first time in over a month, while the market cap of all Solana (SOL) meme coins jumped to over $10 billion. This article explains why Pi Network, XRP, and Sui are the top cryptocurrencies to watch this week.
Sui token unlock could disrupt the rally
Sui, a top layer-1 network, was one of the top-performing coins in the crypto industry as it jumped to $3.8, its highest level since February 1, and up by 110% from its lowest level this month.
It rallied as top meme coins in its ecosystem surged, resulting in a 60% increase in weekly DEX volume. Protocols in its platform handled over $3.43 billion in volume in the last 7 days, bringing the monthly transactions to over $11 billion.
Sui’s surge may be disrupted by a big token unlock scheduled for Thursday. The network will release tokens worth $120 million. Token unlocks often lead to dilution, affecting a coin’s price performance.
The daily chart also shows that the SUI price has become overbought as the Relative Strength Index has moved to 77. Therefore, the coin is likely to retreat and retest the key support at $2.8150, the neckline of the double-bottom pattern at $2.
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XRP price sits at a key level
Because of its technical setup, Ripple’s token will be closely watched this week. XRP was trading at $2.17 on Sunday, a notable level for two reasons. First, it sits on the 50-day Exponential Moving Average, which has provided substantial resistance in recent months.
Second, the price is along the descending trendline connecting the highest levels since January 16. This trendline forms the upper side of a descending triangle, with the lower side at $1.9437.
A descending triangle is a popular bearish chart pattern. Therefore, the coin must rise above the slanted trendline and the 50-day moving average to invalidate the bearish outlook.
Pi Network: Will the consolidation end?
Pi Network will be a top cryptocurrency to watch this week as its consolidation continues. It has hovered around $0.6350 for the past few weeks and did not participate in last week’s crypto recovery.
Therefore, this consolidation may represent calm before the storm since all Pi needs is a minor catalyst for its price to go parabolic. A potential catalyst would be an exchange listing by a tier-one company. HTX, a top exchange advised by Justin Sun, has hinted that it may soon list Pi Network. Pi has appeared in several X posts, boosting speculation.
Other crypto movers to watch
Other top cryptocurrencies to monitor this week include Cetus Protocol, Maverick Protocol, Optimism, Pendle, and Morpho, which will experience token unlocks. Additionally, Binance Smart Chain (BSC) will launch the Lorentz upgrade, a key event that could shake up activity in the broader ecosystem.
