Cryptocurrency prices fell sharply last week as Bitcoin fell below $80,000.
The main focus of traders this week is on future traders Crypto Summit at the White House and non-farm pay data on Friday. Some of the biggest cryptocurrencies to watch this week are Bitcoin (BTC), PI Network (PI), and Hedera Hashgraph (HBAR).
Bitcoin
Bitcoin prices will be in the spotlight this week due to Friday's Crypto Summit. The potential outcome of the event could be an announcement about whether the US will launch a strategic Bitcoin Reserve or SBR.
Bitcoin prices fell to $78,118 last week, then returned to $85,000, with substantial resistance found. The announcement of SBR is a very bullish catalyst for Coin.
However, Bitcoin faces several risks in the future. We are about to retest the critical resistance level at $89,128. This is $108,600, a double-top patterned neckline. It also narrows the spread between the 50-200-day weighted moving average, putting death cross formation at risk.
The fantastic oscillator has been below the zero line since February 4th, but the relative strength index has been sold too much and is getting closer. Therefore, there is a risk that BTC prices will resume their downward trend this week and will retest support at $78,117.
PI Network
PI Network Prices have been an eventful performance since the mainnet in February. Even if other cryptocurrencies retreated, it fell from $2 to $0.59, then bounced back. As a hope for the Binance list, it reached a $3 high rose.
However, recently, PI coin prices have surpassed 42% to $1.6 after the developers postponed the KYC Grace period once again until March 14th.
Pi network prices will be in the spotlight this week as Binance could potentially list them. This is a move that could trigger other Tier-1 Exchange lists. They hope that Binance will list it after the end of the poll, where over 85% of participants voted in favor of it.
PI network prices will likely bounce as they formed a wedge pattern that falls on the hourly chart. This pattern consists of two descending and convergence trend lines, with breakouts occurring when a line is attached to the near-convergence line.
Hedera Hashgraph
Prices for Hedera Hashgraph jumped last week after putting in a partnership with Swift and then processing trillions of dollars each year.
The hourly chart shows that tokens skyrocketed from $0.1816 on February 28th to $0.2652. On February 21st, he outperformed key resistance with a top swing of $0.2308.
Hbar Price formed a combination of falling wedges and bullish pennant patterns. Bullish pennants have integrated patterns like tall vertical lines and triangles.
So the price of Hedera Hashgraph is likely to be a strong bullish breakout, with the next point being able to see that the weekend is $0.2652.
