The crypto market remained on edge today, September 4, as investors waited for the upcoming non-farm payrolls (NFP) data. Bitcoin price was stuck below $109,000, while the market capitalization of all tokens wavered at $3.8 trillion.
This article provides forecasts for some popular tokens like Sky Protocol (SKY), Pendle (PENDLE), and Pi Network (PI).
Pi Network price technical analysis
The daily timeframe chart shows that the Pi Network has continued to waver in the past few weeks as demand waned and supply rose amid the ongoing token unlocks.
It was trading at $0.3485 on Thursday, slightly above the important support level at $0.3162, where it formed a double-bottom-like chart pattern. A double-bottom is one of the most common bullish chart patterns.
Pi coin price volatility has dried up as evidenced by the falling Average True Range (ATR) and the squeezed Bollinger Band. Therefore, a simple catalyst may spark a major Pi coin rally in the coming days.
If this happens, the initial target level to watch will be at $0.4670, its highest point in August. A move above that level will point to more gains, potentially to the next psychological level at $1, which is over 150% above the current level.
Read more: Behind the hype: Is Pi Network a $70 billion ghost chain?
Sky price forecast
The Sky token has been one of the top gainers this week as more exchanges supported its migration from Maker to SKY. It also jumped after hinting that it will move into the vibrant Solana network.
Data shows that the Sky Protocol has continued thriving this year as the number of users jumped to over 646,234. Its total value locked has jumped to over $17.52 billion, making it the second-biggest player in the industry after Aave.
The 12-hour chart shows that the Sky price has rebounded in the past few days, moving from a low of $0.060 on August 28 to the current $0.0736. It has jumped above the 23.6% Fibonacci Retracement level.
Sky price has also moved slightly above the 50-period exponential moving averages and is at the major S/R level of the Murrey Math Lines tool.
Therefore, the token will likely continue rising in the coming weeks, with the next key resistance point at $0.0976, the ultimate resistance of the Murrey Math Lines.
Pendle price forecast
Pendle is a popular platform in the crypto industry that focuses on tokenizing and trading future yield. In it, users normally manage and trade the yield generated from yield-bearing assets by splitting them into primary tokens (PT) and yield tokens (YT).
Pendle has become one of the fastest-growing players in the crypto industry as its total value locked has jumped to $10.97 billion and its annualized fee rose to over $75.2 million
The daily timeframe chart shows that the Pendle price bottomed at $1.823 in March last year and moved to the current $4.680. It has formed an ascending channel and moved to the major S/R pivot point.
Pendle price has moved above the 50-day and 100-day moving averages, while the top oscillators are pointing upwards. Therefore, the token will likely keep rising as buyers target the strong pivot reverse point at $5.50. On the flip side, a drop below the support at $4.3 will invalidate the bullish forecast.
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