Cryptocurrencies to Watch This Week: Arbitrum, Flare, Pi Network

Cryptocurrencies continue to experience high volatility, particularly in the wake of President Donald Trump’s decision regarding tariffs on imports. Bitcoin (BTC) faced sharp fluctuations, dipping below $83,000 on March 4 when tariffs were activated, before bouncing back above $90,000 when certain tariffs were either suspended or delayed. As of the latest reports, Bitcoin is once again hovering below $83,000, down 11.8% over the past week, while Ethereum (ETH) is holding steady just above $2,000, marking an 18.2% decline in the same period.

In light of this ongoing market turbulence, here are three cryptocurrencies that investors should keep an eye on this week: Arbitrum, Flare, and Pi Network.

Arbitrum: A Bearish Outlook Amid Token Unlocks

Arbitrum, one of the prominent layer-2 blockchain solutions, has struggled for a significant period. In 2023, it reached its all-time high of $2.4253, solidifying itself as the second-largest layer-2 blockchain project in the industry. However, the token has been on a steady decline since, recently hitting a record low of $0.312.

The decline of Arbitrum can be attributed to its highly dilutive nature. Arbitrum has a circulating supply of 4.41 billion tokens, with a total supply of 10 billion coins. This large supply continues to grow as the project unlocks 479,068 tokens per day. In fact, this week, 93.2 million tokens will be unlocked, and this will continue on a daily basis until April 2027.

The price of Arbitrum has remained below the critical support level of $0.4310 and has struggled beneath the 50-day moving average. Additionally, the Relative Strength Index (RSI) has been consistently falling, indicating a bearish sentiment in the market.

Looking ahead, Arbitrum’s price is likely to continue its downward trend, especially as the token unlocks continue. The next major price level to watch is $0.25, and if this support fails, further declines are possible.

Arbitrum was developed by Offchain Labs, a company based in New York. It aims to improve Ethereum’s scalability and reduce costs through its layer-2 solution. Despite its innovative design, its price action suggests caution for potential investors in the near term.

Flare: Potential for Recovery After Recent Decline

Flare is another token to keep an eye on this week, especially with its upcoming token unlocks worth $28.16 million (approximately 2.90% of its circulating supply). Flare’s price has faced challenges, retreating from a high of $0.03840 in December to $0.01575—its lowest value since November 2023.

In terms of technical indicators, Flare has fallen below its 50-day moving average, signaling a continued bearish trend. However, there is a glimmer of hope for Flare holders. The token has formed a falling wedge pattern, with two converging trendlines, which often signals a potential price reversal. If the price begins to recover, it could retest the 50-day moving average at $0.0220, offering some upside potential.

Flare operates on a blockchain designed to bring smart contracts and interoperability to non-smart contract networks like Bitcoin and XRP. FLR tokens serve several functions within the network, including governance, collateral within decentralized finance (DeFi), and transaction fees.

Given the ongoing unlocks and the falling wedge pattern on the price chart, there may be an opportunity for a short-term recovery. However, investors should remain cautious of the broader market conditions that could continue to influence Flare’s price movements.

Pi Network: Pressure Mounts as Unlock Looms

Pi Network, known for its “tap-to-earn” model, has also encountered a significant decline. The price recently dropped to a low of $1.3960, its lowest level since February 2023. This decline came in light of reports revealing that Pi Network plans to unlock over 1.4 billion tokens this year, increasing the circulating supply and potentially impacting the token’s price.

Technically, Pi Network’s price has fallen below key support levels, including $1.5337, the neckline of a head and shoulders pattern. The token has also formed a small bearish pennant pattern, indicating further downside risk. Additionally, Pi has slipped below its 50-period weighted moving average, reinforcing the bearish sentiment.

Pi Network’s current trajectory suggests that the price may continue to fall, with the next psychological support level at $1.00 being a key target for sellers. As Pi Network unlocks its tokens, the market’s response will likely dictate the direction of the price in the short to medium term.

Pi Network was created by Stanford graduates Dr. Nicolas Kokkalis, Dr. Chengdiao Fan, and initially Vincent McPhillip. The project gained significant attention through its easy-to-use mobile mining system, allowing users to earn Pi tokens by simply tapping their screens. However, the recent decline in price, paired with the upcoming token unlock, suggests potential challenges for Pi Network in the immediate future.

Other Cryptocurrencies to Watch

In addition to Arbitrum, Flare, and Pi Network, there are other notable cryptocurrencies to keep an eye on this week, including:

Aptos (APT): Known for its scalability and low-cost transactions, Aptos could see increased attention this week due to key token unlocks. As the project continues to grow, its price movement may follow suit.

Perpetual Protocol (PERP): A decentralized trading protocol, Perpetual Protocol is a popular choice within the DeFi space. Watch for token unlocks and updates as the project continues to gain traction.

Apecoin (APE): With the rise of the Bored Ape Yacht Club (BAYC) and the NFT ecosystem, Apecoin remains one to watch as it is expected to release more tokens.

Mainstream cryptocurrencies like Bitcoin, Ethereum, and XRP will also remain in focus as traders monitor price action after weeks of stagnation. Any significant news or developments could trigger volatility in these top tokens.

This week’s cryptocurrency landscape is filled with potential opportunities, but also risks. Arbitrum, Flare, and Pi Network stand out as tokens that could see substantial price movements, driven by factors such as token unlocks and broader market conditions. While the technical outlook for each is mixed, these tokens present both opportunities for short-term gains and risks of further declines.

As always, it is essential for investors to stay informed and approach the market with caution, particularly in the highly volatile environment of cryptocurrency.