Top 3 Cryptocurrencies to Watch This Week: BONK, Aptos, and Pi Network
Crypto Market Holds its Breath Ahead of Key Economic Events
The cryptocurrency market continues its period of consolidation, with Bitcoin (BTC) trading just shy of its all-time high as investors await clear directional signals. This week, all eyes are on major macroeconomic catalysts, including the release of the Federal Reserve’s latest meeting minutes and President Donald Trump’s tariff deadline on July 9. These events could inject significant volatility into the market.
Amidst this backdrop of anticipation, three specific digital assets are standing out for their unique catalysts and technical setups. Here’s a deep dive into the <Cryptocurrencies to Watch> this week: Solana’s meme coin sensation Bonk (BONK), Layer-1 blockchain Aptos (APT), and the community-focused Pi Network (PI).
BONK: Solana’s Flagship Meme Coin Surges with Bullish Momentum
Bonk (BONK), the largest and most prominent meme coin on the Solana blockchain, is capturing significant attention. The token is in the midst of a powerful rally, having climbed for five consecutive days to reach its highest price point since late May.
The technical picture for BONK appears overwhelmingly bullish. The price has decisively broken above the 50-day and 100-day moving averages, a classic signal that buyers are in firm control. Furthermore, it has surpassed the 23.6% Fibonacci Retracement level at $0.00002095.
Social media sentiment is echoing this technical strength. Traders are pointing to several positive factors:
- Strong Technical Patterns: Many analysts note that BONK has broken its long-term weekly downtrend and is potentially forming a “Double Bottom” pattern, which often precedes a significant upward move.
- Ecosystem Strength: Unlike many meme coins, BONK is supported by a growing ecosystem that includes launchpads and a token burn mechanism funded by fees, creating a deflationary pressure on the token.
- Market Leadership: BONK is being hailed as the “flagship memecoin of Solana,” showing impressive strength even against giants like Bitcoin and Solana on its trading pairs.
Key BONK Price Levels to Watch:
With momentum indicators like the Relative Strength Index (RSI) and MACD trending upward, the path of least resistance appears to be higher. The immediate challenge is the crucial resistance level at $0.000025. A break above this could open the door for a rally toward the next major target, the 50% retracement point at approximately $0.00003453.
Aptos (APT): Bracing for a $50 Million Token Unlock
In stark contrast to BONK’s bullish narrative, the top-tier Layer-1 network Aptos (APT) is facing a significant short-term headwind. The project is scheduled to unlock tokens worth over $50 million this week.
In the world of crypto, large token unlocks are often bearish events. They increase the circulating supply of a token, meaning more coins are available to be sold on the open market, which can exert significant downward pressure on the price.
The APT price chart already reflects a prolonged downtrend this year, having fallen from a high of $15.28 to its current level. The price remains trapped in a descending channel and is trading below the 50-day and 100-day Exponential Moving Averages (EMAs).
Key Aptos Price Levels to Watch:
Technical indicators support a continued bearish outlook, with the MACD below the neutral zero line and the RSI struggling below the 50 mark. Given the fundamental pressure from the upcoming unlock, traders will be closely watching the year-to-date low of $3.82 as the next key support level. A break below this could signal a further leg down for the token.
Pi Network (PI): Teetering on a Make-or-Break Support Level
Pi Network (PI) finds itself at a critical crossroads. The token’s price recently crashed to $0.46, a highly significant level that has previously acted as strong support in both April and June. The primary question for investors is: will this floor hold once again?
Adding to the intrigue is a technical indicator known as the Bollinger Bands. The bands on PI’s chart are currently in a “squeeze,” a condition where they narrow significantly. This pattern typically signals that a period of low volatility is ending and a powerful price move—either up or down—is imminent.
Two Potential Scenarios for PI:
Given the critical support and the Bollinger Band squeeze, Pi Network is poised for a decisive move. Two primary scenarios could play out:
- The Bullish Rebound: If the $0.46 support level proves resilient, it could serve as a launchpad for a recovery. A successful bounce could see PI attempt to reclaim the important psychological and technical resistance level at $1.00.
- The Bearish Breakdown: Conversely, if sellers overwhelm buyers and the price breaks below the $0.46 floor, it could trigger a fresh wave of selling. A failure to hold this long-standing support would be a significant bearish signal for the token’s short-to-medium-term outlook.
Investors should watch this support level closely, as the market’s reaction here will likely dictate PI’s direction for the coming weeks.
