The crypto market has traded sideways over the past few days as volume retreated amid the ongoing Thanksgiving holiday in the United States. This week could see most tokens rebound as the month starts. This explains why Ethereum (ETH), Jito (JTO), and Pi Network (PI) will be the top coins to watch this week.
Ethereum Price in Focus Ahead of Fusaka Upgrade
Ethereum price has remained under pressure over the past few months, crashing from its year-to-date high of $4,954 to the current $3,035.
ETH will be in the spotlight this week as the developers launch the mainnet of the Fusaka upgrade. Fusaka is a major player in the network that aims to boost scalability, reduce rollup costs, and increase capacity.
Some of the top features include PeerDAS, the Blob Parameter Only fork, and gas & block size adjustments.
The Ethereum price has always jumped after a major network upgrade. For example, it recently soared to a record high after the developers activated the Pectra upgrade, and this performance may continue towards the end of this year.
The upgrade comes as the Ethereum price has formed a falling wedge pattern, which is one of the most popular bullish reversal signs in technical analysis. A rebound could see it rise to the next key resistance level at $3,500.
Pi Network Price Wavers as Triangle Nears Confluence
Pi Network price has remained in a tight range in the past few months, and this week could be crucial as the two lines of the symmetrical triangle pattern near their confluence.
The upper side of this triangle connects the highest swings since September 23, while the lower side links the lowest swings since October 21.
Therefore, the token may have a bullish or a bearish breakout this week. A bullish breakout will see it jump to the resistance level at $0.3500, while a bearish breakdown will see it retest the support at $0.200.
Jito (JTO) Price Crashes Ahead of Key Unlocks
Jito price has crashed over the past few months, falling from a high of $2.6 in June to $0.46 today, an 81% drop. This crash happened as the total value locked in the network dropped from the year-to-date high of $3.5 billion to $1.95 billion. It has dropped from 18.47 million SOL tokens to 14 million SOL tokens
Jito’s TVL drop has also led to lower fees and revenue in the network. Its fees stood at $17 million in November from $299 million in January, while its revenue dropped to $694,768 from $2.98 million.
Jito price will likely come under pressure this week as the network unlocks 11.3 million tokens worth $5.3 million on Saturday.
