analysis Cardano (ADA), Pi and Akira- The Cryptonomist

All the latest and important crypto news regarding the current trend Cardano (ADA), Akira (AKR) and Pi (PI) cryptocurrencies.

Price analysis of the cryptoassets Cardano (ADA), Pi (PI) and Akira (AKR).

Cardano traders are most likely expecting a bullish week. Pi (PI)however, waiting for its future market entry, while Akira (AKR) is the memecoin that the investor actively contributes to.

Bullish week for Cardano (ADA)? The crypto can outperform PI and AKR

Let’s start from last Sunday, when Cardano (ADA) was traded at $0.411. Over the past week, however, the price of ADA has fallen 12.2% to be traded at $0.361.

Therefore, the market structure was bearish in the lower time frames.

With Bitcoin heading further down the charts, it looked like ADA bulls could face further losses. However, price action showed that Cardano (ADA) buyers were presented with a buying opportunity on the token.

At first glance, the four-hour and one-hour market structures were bearish: they formed descending highs and lows over the past week, thus forming a bearish channel. RSI was at 32.9showing strong downward momentum.

OBV has also been down for the past three days, indicating tremendous selling pressure during the downtrend. At the same time, this was a retest of the H4 bullish order block that ADA did during the rally earlier this month.

USD 0.345-0.36 USD is a region where bulls can start to turn prices around. During the previous rally from this order block, the upward movement was fast and the pullback was slow. The $0.354 level has also been a support level since mid-January.

Therefore, despite the evidence of indicators, it was likely that the ADA would recover and push against $0.41 in the coming week. However, a drop below $0.345 would invalidate this idea.

In any case, Coinalyze’s one-hour chart showed that Open Interest has fallen along with the price over the past three days. The ADA also fell short $0.37 during this period.

Therefore, the conclusion was that long positions were discouraged and the market had a bearish sentiment in the short term. On the other hand, spot CVD made a higher low and started rising in recent days, indicating demand in the market.

The liquidation charts also showed that some long positions were liquidated on February 24. Within two hours, longs worth 1 million dollars was liquidated when Cardano fell from $0.38 to $0.365 on February 24.

Pi crypto: when will it be market entry? All the details

As we know, Pi network is a new cryptomining project that allows mobile users to mine Pi coins without draining their device’s battery.

Pi’s blockchain not only protects financial transactions through a mobile meritocracy system, but also a complete one Web 3.0 experience where community developers can create decentralized blockchain applications (dApps) for millions of users.

The project has developed over the years with enormous interest from the community and is now in the final stages of its transition to the public mainnet.​​ It has been particularly active recently due to a couple of price-related news stories: indeed, by all accounts, the Pi coin has been listed on Huobialthough the team does not yet appear to confirm its official status.

In addition, Wrapped Pi (WPI), the Pi bridge utility token, also went live on the BNB chain in January 2023, as a planned bridge between the Pi network and the BNB chain. Regardless, the launch date of the Pi Network Mainnet has become a hot topic once again.

The Pi Core team confirmed in their 2022 year-end update that the Pi Network is at an important stage in the development of the closed Mainnet until the launch of the open Mainnet.

The team is still focusing on completing KYC and further technology improvements before opening the mainnet to the public, but currently has no set timeline for this transition.

Therefore, the question arises whether all the Pi coin listings so far are just scams, as transactions with Pi through an exchange are prohibited in the attached Mainnet period.

This question has caused confusion in the Pi Network community and has prompted the team to answer what is going on.

According to a statement from Pi core team, all of these entries so far have been done independently of the team, which was not approved and was not in line with network policies. The team requests the removal of the coin from these exchanges and warns users not to engage in trading at this time.

In any case, we see that the price of PI is on the way up this week. The price has risen 2.26% the last 24 hours, but in the last 24 hours it has decreased by 0.12%. Current price is €44.16 per PI. The price of Pi is 85.91% lower than the all-time high of €313.38. The current outstanding bid is 0 PI.

Focus on the performance of AkiraToken (AKR)

AkiraToken (AKR) is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. It uses a basket of fiat-anchored stablecoins, algorithmically stabilized by its AKR reserve currency, to facilitate programmable payments and the development of an open financial infrastructure.

From December 2020, the network traded approx $299 billion worth of transactions for more than 2 million users.

Despite this activity, both AKR’s price and trading volume in the last 24 hours are $0.

It has a circulating supply of 1,000,000,000 ACR coins and a total supply of 1,000,000,000 ACR.

Akira wants to establish a decentralized project where the investor actively contributes to the project.

In fact, each investor can vote and create ideas that can improve the ecosystem and has the opportunity to develop the project together with other contributors. Akira is one ERC20 memecoin with 100% liquidity locked. The contract has been waived and is available for all to see.

Akira was created with its holders in mind. From its conception, the token itself was designed to protect investors and help them grow their holdings comfortably.

1% of all transactions are distributed to owners to keep investors ambitious. 9% of all transactions are allocated to marketing funds and the development team, to keep the project active.