The crypto market remained on edge on Wednesday morning as investors focused on the ongoing trade conflict between the United States and China, the two biggest economies globally. The crash also happened as investors reacted to last week’s liquidations, which affected at least 1.6 million traders.
This article provides a forecast for popular tokens like Aster, Shiba Inu (SHIB), and Pi Network (PI).
Shiba Inu price prediction
Shiba Inu, the biggest meme coin in the Ethereum network, has come under intense pressure in the past few months as it crashed from last November high of $0.00003323 to the current $0.00001067.
All attempts to rebound faced substantial rejections in May, July, and September this year. As a result, the coin formed a descending triangle pattern whose upper side connects the highest swings in these three months. The lower side of this pattern was at 0.00001062. A descending triangle often leads to a strong bearish breakout.
Shiba Inu price crashed below the support on Friday as the crypto market crash intensified. It has now bounced back to this level as it formed a break-and-retest pattern, which is a common continuation sign.
Shiba Inu price remains below the 50-day and 100-day Exponential Moving Averages (EMA), a sign that bears are in control. Therefore, the most likely scenario is where it continues falling, with the next point to watch being at $0.000000698, its lowest level on Friday.
Aster price forecast
Aster is a top cryptocurrency project that has become a major competitor to companies like Orderly and Hyperliquid. It is a perpetual DEX handling billions of dollars a day.
Aster has become a popular name because it was built by former Binance employees, and Changpeng Zhao, popularly known as CZ, has become an advisor. His YZI Labs has invested in the company.
Aster token price has come under pressure in the past few days after it suffered a major delisting from DeFi Llama, a popular data aggregator, which cited its wash trading practices.
The Aster price has plunged after peaking at $2.4350 in September to the current $1.4713. Aster price formed a giant double-top at $2.2696 and a neckline at $1.5075. A double-top is one of the most bearish patterns in technical analysis.
It has now formed a break-and-retest pattern by bouncing back to the neckline at $1.5075, where it is today. Therefore, the token will likely continue falling as sellers target the next key support level at $1.0940, its lowest point on October 10.
Pi Network price technical analysis
Pi Network price has been in a strong downward trend since February this year, when the developers launched the mainnet. The crash happened as many pioneers who were mining the token for years sold them.
It also happened as the number of tokens being unlocked jumped, which led to substantial inflation in the network. Most importantly, Pi Network does not have any utility, with just a handful of people using apps in its network. As such, it has not achieved the goal that the developers set in the first place.
After initially peaking at $3 in February, the token plunged to an all-time low of $0.1538 on Friday.
Pi Network price then rebounded slightly to the current $0.2135. It has moved below the 50-day and 100-day Exponential Moving Averages (EMA).
The token has also formed a bearish flag pattern, which often leads to more downside. Therefore, barring any new development, the token will likely continue falling as sellers target the next key support at $0.1538 followed by the psychological level at $0.100.
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