Cryptocurrencies to Watch This Week: Bonk, Aptos, and Pi Network
The cryptocurrency market is in a consolidation phase, with Bitcoin hovering just below its all-time high.
This week’s key factors influencing the industry include the awaited Federal Reserve minutes and the approaching tariff deadline set by President Donald Trump for July 9. Key cryptocurrencies to watch this week are Bonk (BONK), Aptos (APT), and Pi Network (PI).
Bonk
As the top meme coin on Solana (SOL), Bonk is garnering attention this week with its continued upward movement. It has seen a rally for five consecutive days, reaching its highest point since May 23.
The cryptocurrency has moved past the 23.6% Fibonacci Retracement level of $0.00002095 and is nearing a key resistance level at $0.000025, which was last peaked on May 12.
Bonk has also surged beyond the 50-day and 100-day moving averages, reflecting strong bullish momentum. Furthermore, both the Relative Strength Index and the MACD indicators are indicating positive trends.
With the current trajectory, Bonk’s price is poised to keep climbing, with the next target being the 50% retracement level at $0.00003453.
Aptos
Aptos, a leading layer-1 network, is expected to draw attention this week due to a token unlocking valued at $50 million. Generally, such unlocks tend to lead to price drops as the circulating supply increases.
This year, Aptos has seen a downward trend, falling from a high of $15.28 in November to $4.48 currently. It has established a descending channel and has slipped below both the 50-day and 100-day Exponential Moving Averages.
The MACD has moved below the zero line, and the Relative Strength Index has fallen below the neutral level of 50. As a result, it appears likely that Aptos’s price will continue to decrease this week, with a critical level to watch being the year-to-date low of $3.82.
Pi Network
This week, Pi Network is set to be in the spotlight as it tests a critical support level that could lead to a rebound. After falling to $0.46 on July 6, this level is important as it aligns with the lowest points in both April and June.
This downturn coincided with a narrowing of the Bollinger Bands, indicating a potential price reversal. If it remains above the support at $0.46, a recovery could result in a retest of the significant resistance level at $1.