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Cryptocurrency News Articles
Litentry (LIT), Flare (FLR), Pi Network (PI) Cryptocurrencies to Watch This Week
Feb 02, 2025 at 10:50 pm
Cryptocurrency prices are retreating amid concerns about President Donald Trump's tariffs and a hawkish Federal Reserve. Bitcoin (BTC) and Ethereum (ETH)
Cryptocurrency prices retreated on Monday as traders reacted to President Donald Trump’s tariffs and a hawkish Federal Reserve.
Bitcoin (BTC) and Ethereum (ETH) prices declined after Trump announced plans to sweepingly tariff Chinese, Mexican, and Canadian goods. The tariffs are expected to lead to higher inflation, pushing the Fed to maintain higher interest rates for longer.
Some of the top crypto to watch this week will be Litentry (LIT), Flare (FLR), and Pi Network (PI).
Litentry price went parabolic, reaching a high of $1.8457, its highest since March 2024 and 250% from its lowest level on Friday. It then erased some of those gains and fell to $1.20 on Sunday.
Litentry surged as the network began its rebranding to Heima, whose token is HEI. There will be a total supply of 100 million HEI tokens, with 66 million in circulation. The remaining ones will unlock in over 20 months.
According to the developers, the rebrand is part of Litentry’s evolution. The new network will focus on creating interoperability among chains. For example, one will be able to pay token A for service on chain B.
The daily chart shows that the LIT price found a triple bottom at $0.5345, where it faced resistance to move below since August last year. It moved above the neckline at $1.2440, its highest in December last year.
Litentry formed a golden cross pattern as the 200-day and 50-day moving averages crossed each other. We expect the LIT coin to continue rising in this week, as the transfer to HEI continues. The next potential target for the coin is $2.
Flare
Flare is a top player in the blockchain industry, where it provides developers with secure decentralized access to high-integrity from other chains. The FLR token will be in focus this week as it unlocks tokens worth $40.7 million (3% of the total). 66% of Flare tokens have now been unlocked.
Flare price bottomed at $0.012 in November last year and has bounced back to $0.022. The coin has retreated in the past few weeks. It has formed a bullish flag pattern, which is a popular continuation sign. The coin moved above the 200-day moving average.
We expect Flare to have a strong bullish breakout in the next few weeks, with the next point to watch being at $0.0325, which was its highest in June last year.
Pi Network
Pi Network remained in a tight range during the weekend, two days after the developers extended the KYC grace period. The developers noted that the extension was to allow more pioneers to verify their identity ahead of the mainnet launch, which will happen in the first quarter.
The daily chart shows that the PI coin price has remained under pressure in the past few days. It formed a bearish pennant pattern and is about to form a death cross, which happens when the 200-day and 50-day moving averages cross each other.
We expect Pi to remain under pressure this week, with the next point to watch being at $28.95, which was its lowest in September last year.
Other crypto to watch this week
Other top cryptocurrencies to watch will be Ethereum Name Service, StepN, Aptos, Celestia, and Immutable X, which will unlock millions of tokens during the week.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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