Top Cryptocurrencies to Watch This Week: Bitcoin, Pi Network, and Hedera Hashgraph

This week, several cryptocurrencies are drawing attention, with Bitcoin, Pi Network, and Hedera Hashgraph emerging as key assets to watch.

Bitcoin

Bitcoin’s price will be closely watched due to the upcoming crypto summit at the White House and the potential announcement of a Strategic Bitcoin Reserves (SBR) plan. Last week, Bitcoin fell to $78,118 but rebounded to $85,000, where it met significant resistance. An SBR announcement could act as a major bullish catalyst.

However, Bitcoin faces some risks. It is testing the resistance at $89,128, which marks the neckline of a double-top pattern at $108,600. There is also concern that the narrowing gap between the 50-day and 200-day Weighted Moving Averages could lead to a death cross formation. Additionally, the Awesome Oscillator has been below the zero line since early February, and the Relative Strength Index is approaching the oversold level. This suggests the possibility of a continued downward trend and a retest of the $78,117 support level.

Pi Network

Pi Network has seen significant price movement since its mainnet launch in February. The price dropped from $2 to $0.59, but it then bounced back as hopes for a Binance listing grew. Pi Network reached a high of $3, but more recently, its price crashed by over 42%, falling to $1.6 after developers delayed the KYC grace period until March 14.

Pi Network is expected to be in the spotlight this week as speculation around its potential Binance listing continues. A listing could trigger other major exchange listings, adding to its momentum. The price has formed a falling wedge pattern on the hourly chart, indicating the potential for a breakout as the price nears the convergence of two descending trendlines.

Hedera Hashgraph

Hedera Hashgraph’s price surged last week following a partnership with Swift, a global leader in cross-border payments handling trillions of dollars annually. The price jumped from $0.1816 on February 28 to $0.2652. It surpassed key resistance at $0.2308, which was the highest swing from February 21.

The HBAR price has formed both a falling wedge and a bullish pennant pattern. This combination typically signals strong upward momentum, and a breakout above the weekend high of $0.2652 is a potential next step for Hedera Hashgraph. Given the technical setup, HBAR is likely to experience a bullish breakout in the near term.