The crypto market remained under pressure after the Federal Reserve delivered its interest rate decision. Bitcoin remained at $116,000, while the market capitalization of all coins moved to $4.1 trillion. This article provides the forecast for some top tokens like Pi Network (PI), WorldCoin (WLD), and Pump (PUMP).
PI network price technical analysis
The daily timeframe chart shows that the Pi Network price has remained in a tight range in the past few months. It was trading at $0.3590, down by almost 80% from its highest level this year.
The coin’s volatility has dried, with the Average True Range (ATR) falling to the lowest level in months. ATR is one of the most popular volatility indicators in technical analysis.
The three lines of the Donchian channels have also narrowed substantially in the past few weeks.
Most importantly, the coin has formed a falling wedge pattern, which is characterized by two falling and converging trendlines.
It has also formed a double-bottom pattern, which often leads to a strong bullish breakout. Therefore, while the Pi Coin has many challenges, including the increasing supply and lack of an ecosystem, there are signs that it has bottomed, which could trigger a short-squeeze.
If this happens, the next important resistance level to watch will be the psychological level at $0.50, which is about 42% above the current level. This forecast likely explains why one large whale has continued to buy the coin and now holds tokens worth over $130 million.
A drop below the support level at $0.3300 will invalidate the bullish forecast.
Worldcoin price technical analysis
Sam Altman’s Worldcoin has been in the spotlight in the past few weeks after a small American company launched a WLD treasury firm.
It also scooped Dan Ives, a popular analyst at Wedbush as a director. In a statement on Wednesday, Ives insisted that WLD was one if the most undervalued coins in crypto.
The daily timeframe chart shows that the WLD price bottomed at $0.8327, where it formed a double-bottom pattern, a common bullish reversal sign.
It then surged and reached a high of $2.2086 earlier this month after the WLD treasury company announcement. These gains were short-lived as the coin then plunged to a low of $1.4687, its lowest level on September 15.
Worldcoin price is bouncing back as investors buy the dip. This could be a sign that it is about to form a double-top pattern. If this happens, the next key level to watch will be at this month’s high of $2.2, which is about 37% above the current level.
Pump Coin price forecast
Pump, the popular meme coin generator on Solana, has been thriving this year. Its revenues have soared to almost $1 billion, and activity in its platform has continued to rise.
The 12-hour chart shows that the Pump Coin price has been in a strong uptrend in the past few months, moving from a low of $0.002260 in July to a high of $0.0090, its highest level on record.
The coin has moved above the important resistance level at $0.0069, the highest swing on July 25. Moving above that level confirmed the bullish breakout.
Pump Coin price is now slowly forming a bullish pennant pattern, which is made up of a vertical line and a symmetrical triangle pattern.
Therefore, the most likely scenario is where it rebounds and moves to the psychological level at $0.010, up by about 20% above the current level.
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