alts market big dump: Pi Network (PI), SPX6900, Celestia (TIA) all experienced double-digit losses

Gate News, Pi Network (PI), SPX6900 (SPX), and Celestia (TIA) have all recorded double-digit falls in the past 24 hours, continuing the pullback trend since Thursday. The ongoing risk aversion in the Crypto Assets market has led to a sudden pullback, possibly due to changes in the Middle East tensions, as well as the impending expiration of the 90-day tariff suspension in two weeks.

PI is at risk of losing weekly earnings

FXStreet analyst Vishal Dixit stated that as of Friday's press release, the price of PI coin has slightly fallen by 2%, continuing the previous day's 9% fall. Due to the price retreating from the resistance level of $0.66, PI coin may lose the 28% increase achieved earlier this week.

A larger adjustment may test the weekly low of $0.49 and potentially reach the psychological support level of $0.50.

Momentum indicator loses bullish bias: As the strength of the green histogram bars decreases, the Moving Average Convergence Divergence (MACD) indicator gradually approaches its signal line.

The Relative Strength Index (RSI) reversed to 43, breaking below the midpoint, indicating a weakening bullish momentum.

However, due to the possible announcement of generative artificial intelligence (GenAI) features on Saturday, if the closing price exceeds $0.66, it may extend the upward trend to the level of $0.86, which is the high point on May 21.

(Source: Trading View)

SPX6900 meme coin may fall below 1 dollar

As bullish momentum weakened, the price of SPX6900 meme coin fell, dropping 12% within two days. As of the writing of this article, SPX6900 continued a 0.50% pullback trend on Friday.

The target of the downtrend is the 50% Fibonacci pullback level of $1.02, which lies between the highest and lowest points from the beginning of the year to date, ranging from $1.80 to $0.25. If it falls below the 50% pullback level, it may test the monthly low of $0.91.

The MACD indicator shows that both the MACD line and the signal line are moving down towards the zero axis, while the red histogram is rising from the zero axis, indicating a surge in supply. However, the RSI indicator is still fluctuating around the midline, indicating uncertainty in trend momentum.

If SPX6900 reclaims the 61.8% Fibonacci level at $1.21, an upward trend may occur towards the 78.6% level marked at $1.47.

(Source: Trading View)

TIA failed to break the falling channel

As of the time of writing on Friday, the TIA price has slightly increased after experiencing two days of heavy selling, erasing the gains made during the week. The TIA price has reversed from the resistance trend line of the downward channel (formed by connecting the points of May 14, June 11, and June 25).

The support trend line is connected by the lows on May 17, May 31, and June 22. TIA's downward trend target is the monthly low of $1.31, and a potential closing price below this level may test the support trend line close to the integer of $1.00.

The MACD indicator has not issued a clear buy signal, with the MACD line overlapping the signal line, indicating a risk of a pullback downtrend. The RSI is at 33, just above the oversold boundary, suggesting a bearish inclination.

However, if the closing price exceeds the weekly high of $1.68, it will break the upper trend line, potentially extending the trend to the monthly high of $2.30.

(Source: Trading View)