The crypto market remained on edge on Friday as traders waited for the upcoming US nonfarm payrolls (NFP) data. Bitcoin and most coins retreated after Donald Trump announced plans for a strategic BTC reserve that underwhelmed the market. This article looks at three notable coins: Cardano, LUNC, and Pi Network.
Cardano price prediction
Cardano coin has had an eventful week. It initially surged by over 50% on Sunday after Donald Trump revealed plans to include it in US Strategic Crypto Reserves. After peaking at $1.175 on Monday, the coin has now crashed by 25% to $0.9 as investors remain concerned about its inclusion in these reserves.
The daily chart shows that the ADA price has pulled back in the past few days. It has remained slightly above the 50-day and 100-day moving averages, a sign that bulls remain in control.
The stock also forms a descending channel resembling a bullish flag pattern. This flag is usually a bullish pattern in the market. It has also found support at the 61.8% Fibonacci Retracement level.
Therefore, the ADA price will likely resume the bullish trend as long as it remains above the 50-day and 100-day moving averages. Such a move will point to more gains, potentially to this week’s high of $1.177. A break above that level will signal more gains to last year’s high of $1.32.
LUNC price analysis
The Terra Luna Classic price has crashed in the past few months even as the community continued to incinerate more LUNC tokens. Over 2 billion SHIB tokens have been burned in the last seven days.
LUNC price was trading at $0.000062, down by 65% from the highest level in 2024. It has remained below the 50-day and 200-day moving averages, a sign that the bearish trend is continuing.
On the positive side, Terra has formed a giant double-bottom pattern at $0.00005386. Its neckline is at $0.00018, the highest swing in December last year. Therefore, LUNC price will have a bullish outlook as long as it is above that support level. Such a move will see it surge to $0.00018, up by 180% above the current level.
LUNC chart by TradingView
Pi Network price forecast
Pi coin price has lost momentum in the past few days as investors remained concerned about the upcoming unlocks. Data shows that it will unlock over 188 million tokens this month and over 1.4 billion this year so far. These unlocks will likely lead to more dilution among existing holders. Worse, Pi Network does not have plans to burn tokens.
Pi Network price has formed a head and shoulders chart pattern, a popular bearish sign. It has also moved slightly below the 25-period moving average on the hourly chart.
Therefore, the coin will likely have a bearish breakdown in the coming days. If this happens, the next Pi Network price to watch will be at $1.5337, the lowest swing on March 2 and the neckline of the head and shoulders pattern.
Pi price chart by TradingView
Top catalysts for crypto prices
The main catalyst for these cryptocurrencies will be the upcoming US nonfarm payrolls data and the Trump crypto summit. Economists expect the data to show that the economy created 156k jobs in February this year.
However, the labor market will continue to soften for a while because of Elon Musk job cuts and the tariff fears. The crypto summit will likely be a sell-the-news event since most of what will be announced has been previewed.
The post Cardano, LUNC, Pi Network price predictions ahead of Trump crypto summit appeared first on Invezz