The cryptocurrency market experienced a sharp pullback on Thursday, with investor sentiment turning increasingly risk-averse. This shift has triggered significant declines across multiple altcoins, including Pi Network (PI), SPX6900 (SPX), and Celestia (TIA)—all of which recorded double-digit losses over the past 24 hours. Analysts suggest that geopolitical tensions in the Middle East and the approaching deadline for a 90-day tariff pause may be contributing to the volatility.
Despite earlier weekly gains, these digital assets are now struggling to maintain momentum as bearish pressure builds. Technical indicators point to weakening bullish sentiment, with key support levels now under threat. Below is a detailed breakdown of each project’s current price action, technical outlook, and potential reversal scenarios.
Pi Network Loses Momentum, Tests Critical Support
Pi Network’s price momentum has stalled, with PI dropping 2% on Friday, following a 9% decline the previous day. This two-day slide threatens to erase its earlier weekly gains of nearly 28%, as the token pulls back from its resistance level at $0.66.
A deeper correction could test the week’s low at $0.49**, putting the psychologically important **$0.50 level at risk. If selling pressure continues, this zone may become a crucial battleground for bulls aiming to preserve recent progress.
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Technical Indicators Signal Bearish Pressure
On the daily chart, momentum indicators are flashing warning signs:
- The MACD (Moving Average Convergence Divergence) is converging toward its signal line, with the green histogram bars shrinking—indicating fading bullish strength.
- The Relative Strength Index (RSI) has dipped to 43, falling below the neutral 50 midpoint. This suggests diminishing buying pressure and growing dominance by sellers.
However, there remains a potential bullish catalyst on the horizon: an anticipated announcement regarding generative AI integration this weekend. Should PI close above $0.66**, it could re-ignite upward momentum and target the next resistance level at **$0.86—a price point marked by its May 21 high.
For now, traders are watching closely to see whether short-term weakness will evolve into a broader trend reversal.
SPX6900 Meme Coin Dips Below $1.20, Eyes Key Fibonacci Levels
The meme coin phenomenon continues to face headwinds, with SPX6900 (SPX) shedding 12% over two days amid weakening bullish momentum. As of Friday, SPX dipped another 0.5%, continuing its descent from recent highs.
Currently trading below $1.20**, the asset is approaching a critical technical zone—the **50% Fibonacci retracement level at $1.02. This level was calculated using the year-to-date high of $1.80** and low of **$0.25. A break below $1.02 could open the door to further downside toward the monthly low of **$0.91**.
Mixed Signals from Technical Indicators
While the overall trend appears bearish, technical indicators present a nuanced picture:
- The MACD shows both the MACD line and signal line moving downward toward zero, with red histogram bars expanding—signaling increasing selling pressure.
- Meanwhile, the RSI hovers near the midpoint at around 50, indicating indecision in market sentiment and a lack of strong directional conviction.
👉 Learn how Fibonacci retracements help predict turning points in volatile crypto markets.
Potential Bullish Reversal Scenario
If SPX manages to reclaim the 61.8% Fibonacci level at $1.21**, it could spark a recovery attempt targeting the **78.6% level at $1.47. Such a move would require strong buying volume and renewed investor confidence—conditions that remain uncertain in the current risk-off environment.
Until then, traders should remain cautious, especially if volume trends continue to favor sellers.
Celestia Trapped in Downtrend Channel, Approaches $1.00 Test
After two days of heavy selling pressure, Celestia (TIA) showed slight recovery on Friday but remains trapped within a well-defined descending channel on the daily chart. The upper trendline connects key resistance points from May 14, June 11, and June 25, while the lower support line links lows from May 17, May 31, and June 22.
TIA is currently testing support near $1.31**, its monthly low. A close below this level could lead to a retest of the channel’s lower boundary—potentially near the psychologically significant **$1.00 mark.
Weak Bullish Signals Amid Bearish Dominance
Technical indicators offer little comfort for bulls:
- The MACD lines are converging near zero without forming a clear bullish crossover—increasing the risk of renewed downward momentum.
- The RSI sits at 33, just above oversold territory (typically defined as below 30), reflecting persistent bearish control.
Despite these challenges, a breakout above $1.68**—the recent weekly high—could invalidate the current downtrend and set the stage for a rally toward **$2.30, Celestia’s monthly peak.
Such a move would likely require strong catalysts, such as network upgrades, increased adoption of its modular blockchain infrastructure, or broader market recovery.
Frequently Asked Questions (FAQ)
Q: Why are Pi Network, SPX6900, and Celestia falling simultaneously?
A: These altcoins are part of a broader market correction driven by risk-off sentiment linked to geopolitical uncertainty and macroeconomic expectations. When investors become cautious, higher-risk assets like smaller-cap cryptos tend to sell off first.
Q: Can Pi Network recover its weekly gains?
A: Yes—but only if it regains and closes above $0.66. Sustained momentum above this level could reactivate bullish trends and push prices toward $0.86.
Q: What is the significance of the $1.00 level for Celestia?
A: The $1.00 mark is a major psychological support level. Breaking below it could trigger further liquidations and erode trader confidence, while holding it may attract dip buyers.
Q: Is SPX6900 still a viable investment?
A: SPX remains highly speculative due to its meme-driven nature. Traders should use strict risk management and monitor key Fibonacci levels for potential entry or exit points.
Q: How do Fibonacci retracements work in crypto trading?
A: These levels identify potential reversal zones based on prior price swings. Common levels like 50%, 61.8%, and 78.6% often act as support or resistance during pullbacks.
Q: What should I watch for in the coming days?
A: Key factors include macroeconomic news, Bitcoin’s price stability, on-chain activity for these tokens, and any project-specific developments like AI integrations or protocol upgrades.
Final Outlook: Volatility Expected as Support Levels Are Tested
The recent downturn in Pi Network, SPX6900, and Celestia reflects broader instability in the altcoin sector. With technical indicators leaning bearish and investor sentiment fragile, these assets face critical junctures over the next few sessions.
Key support zones—including $0.50 for PI**, **$1.02 for SPX, and $1.31 for TIA—will be decisive in determining whether this pullback turns into a deeper correction or sets up for a rebound.
While short-term pain is evident, long-term opportunities may emerge if fundamentals remain strong and market conditions stabilize. Investors are advised to monitor volume trends, technical breakouts, and external macro drivers closely before making new positions.
Note: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.