The cryptocurrency market remained tense over the weekend as investors weighed elevated crude oil prices and the upcoming Federal Reserve interest rate decision. Bitcoin and Ethereum traded around $77,000 and $2,500 respectively, while the Crypto Fear and Greed Index moved to 68. Against this backdrop, technical forecasts for Pi Network (PI), Pepe Coin (PEPE), and Zcash (ZEC) highlighted key support and resistance levels.
Pi Network has climbed from a July low of $0.0715 to about $0.097, with attention on the upcoming V27 upgrade that is expected to improve smart contract features. However, technicals suggest a possible bearish breakout. The token has formed a rising wedge pattern with two ascending and converging trendlines. It remains below the 100-day Exponential Moving Average while the Relative Strength Index has formed a bearish divergence. A bearish breakout could push PI toward the year-to-date low of $0.07156. The bearish view would be invalidated above the key resistance at $0.1110.
Pepe Coin rallied from a July low of $0.0000022 to a high of $0.000004547 on August 22, helped by the broader crypto market rebound. After pulling back to around $0.000003478, it has formed a falling wedge pattern, part of a bullish pennant structure. This often leads to a strong bullish breakout, potentially toward the resistance at $0.0000040. The bullish scenario would be invalidated if the price drops below the lower side of the wedge.
Zcash has surged from a year-to-date low of $188 in January to a record high of $1,288, supported by rising demand for privacy tokens and inflows into the recently launched Grayscale Zcash ETF (ZCSH). After breaking above the important resistance at $747, the coin has remained above its 50-day and 100-day moving averages. Yet the RSI has dropped from an overbought reading of 87 to 64 and formed a double-top pattern. ZEC is likely to continue falling toward support at $1,000. A move above the year-to-date high of $1,288 would invalidate the bearish outlook.
