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The U.S. will face a major debt crisis within 3 years unless it reduces the deficit warns Hedge Fund Manager Ray Dalio 🚨

Pi Network has witnessed a double-digit decline in the past week, shedding nearly 20% of its value. This price dip comes amid an uptick in the market’s volatility triggered by Donald Trump’s trade war, which has weighed heavily on investor sentiment across risk assets. With bullish momentum fading, Pi Network remains vulnerable to further losses. This analysis explains why. 🔸 PI’s Decline Far From Over? Key Indicators Hint at Further Downside Risks PI’s declining on-balance volume (OBV) on a four-hour chart confirms the surge in bearish pressure. Since March 6, this momentum indicator, which tracks money flow into and out of an asset, has trended downward, falling 20%. When an asset’s OBV falls, selling pressure outweighs buying pressure, as more volume is associated with price declines than price increases. This suggests weakening momentum in the PI market and hints at the likelihood of a potential further downside as traders continue to offload their positions. Further, readings from its Elder-Ray Index confirm this bearish outlook. At press time, the indicator posts a negative value of -0.0070, reflecting the high selloffs among market participants. An asset’s Elder-Ray Index compares the strength of its bulls and bears in the market. When the index declines like this, it signals increasing bearish strength, suggesting that sellers are gaining control and downward pressure is intensifying. 🔸 Bulls vs. Bears: PI Faces Critical Battle Between $1.62 and $2.12 Pi Network currently trades at $1.80, resting above the support formed at $1.62. If sellofs strengthen, the bulls may be unable to defend this level. In this scenario, the altcoin’s value could plummet to $1.62. On the other hand, a resurgence in PI demand could invalidate this bearish projection. If the altcoin sees a rise in new demand, its price could rocket above $2 to trade at $2.12. A successful breach of this resistance could propel PI price to revisit its all-time high of $3.

Pi Network has witnessed a double-digit decline in the past week, shedding nearly 20% of its value. This price dip comes amid an uptick in the market’s volatility triggered by Donald Trump’s trade war, which has weighed heavily on investor sentiment across risk assets. With bullish momentum fading, Pi Network remains vulnerable to further losses. This analysis explains why. 🔸 PI’s Decline Far From Over? Key Indicators Hint at Further Downside Risks PI’s declining on-balance volume (OBV) on a four-hour chart confirms the surge in bearish pressure. Since March 6, this momentum indicator, which tracks money flow into and out of an asset, has trended downward, falling 20%. When an asset’s OBV falls, selling pressure outweighs buying pressure, as more volume is associated with price declines than price increases. This suggests weakening momentum in the PI market and hints at the likelihood of a potential further downside as traders continue to offload their positions. Further, readings from its Elder-Ray Index confirm this bearish outlook. At press time, the indicator posts a negative value of -0.0070, reflecting the high selloffs among market participants. An asset’s Elder-Ray Index compares the strength of its bulls and bears in the market. When the index declines like this, it signals increasing bearish strength, suggesting that sellers are gaining control and downward pressure is intensifying. 🔸 Bulls vs. Bears: PI Faces Critical Battle Between $1.62 and $2.12 Pi Network currently trades at $1.80, resting above the support formed at $1.62. If sellofs strengthen, the bulls may be unable to defend this level. In this scenario, the altcoin’s value could plummet to $1.62. On the other hand, a resurgence in PI demand could invalidate this bearish projection. If the altcoin sees a rise in new demand, its price could rocket above $2 to trade at $2.12. A successful breach of this resistance could propel PI price to revisit its all-time high of $3.

✨️Today's Top10 Trending Crypto✨️ #PROS #BTT #ATH #TRX #BNX #KAITO #ACT #VINE #RAY #BURGER

In a recent Blockchain Letter, Pantera Capital, a leading cryptocurrency investment firm, made a bold prediction: Solana will be the next digital asset to have a spot ETF approved in the U.S. [1]. This forecast has sent shockwaves through the crypto community, with many investors and analysts eager to understand the implications of a Solana ETF approval. Solana's Rise to Prominence Solana has been making waves in the crypto space, with its decentralized exchanges (DEXs) thriving and its developer adoption skyrocketing. According to Pantera Capital, Solana's DEX, Raydium (RAY), has surpassed Ethereum's Uniswap (UNI) in trading volume for two consecutive months [1]. Additionally, Solana has become the go-to platform for new token creation, with over 90% of new tokens launched on its blockchain in Q4 2024 [1]. Key Factors Contributing to Solana's ETF Approval Odds Several factors contribute to Pantera Capital's optimistic forecast: - *Strong Fundamentals*: Solana's robust developer activity, growing DEX presence, and increasing dominance in decentralized finance (DeFi) make it an attractive candidate for ETF approval [1]. - *Institutional Interest*: Multiple firms, including Canary Capital, VanEck, 21Shares, and Bitwise, have submitted ETF applications for Solana, reflecting growing institutional demand [3]. - *Regulatory Environment*: The U.S. SEC is set to decide on four Solana ETF applications by March 15, 2025, which could pave the way for ETF approval [1]. Implications of a Solana ETF Approval A Solana ETF approval would have significant implications for the crypto market: - *Increased Institutional Investment*: A Solana ETF would provide institutional investors with a regulated and familiar investment vehicle, potentially leading to increased investment in Solana and the broader crypto market [2]. - *Price Appreciation*: A Solana ETF approval could lead to increased demand for Solana, potentially driving up its price. Some analysts predict a price target of $300 before April 2025 [2]. - *Competition with Ethereum*: A Solana ETF approval would position Solana as a viable competitor to Ethereum, potentially challenging Ethereum's dominance in the DeFi space [1]. Conclusion In conclusion, Pantera Capital's prediction of a Solana ETF approval is a significant development in the crypto market. With Solana's strong fundamentals, growing institutional interest, and favorable regulatory environment, a Solana ETF approval is increasingly likely. As the crypto market continues to evolve, it's essential to stay informed about the latest developments and their potential implications. References: [1] Pantera Capital Blockchain Letter [2] CoinDesk: Solana ETF Approval Could Send Price to $300 [3] Bloomberg: Multiple Firms Submit Solana ETF Applications