Top crypto price predictions: Zcash, Cardano, Pi Network

The crypto market remained on edge today, June 5, with Bitcoin and most altcoins sitting in the red. The valuation of all coins retreated 1.68% in the last 24 hours to $2.1 trillion. This article provides a forecast for top tokens like Zcash (ZEC), Cardano (ADA), and Pi Network Coin (PI).

Zcash price technical analysis Zcash has slumped in the past few days, sliding from a high of $685 on May 20 to the current $400. It dropped in two consecutive sessions, erasing millions of dollars in value along the way.

The retreat happened as the privacy token formed a head-and-shoulders pattern, a common bearish reversal sign in technical analysis. It has slipped below the Major S/R Pivot Point of the Murrey Math Lines tool and is now hovering at the Strong, Pivot, Reverse level.

The coin has already moved below the 50-day moving average, a sign that bears have prevailed. The Average Directional Index (ADX) has continued to rise this week, so the token will likely keep falling as sellers target the psychological support at $300. On the more optimistic side, it appears to be forming the handle section of a cup-and-handle pattern, which normally leads to a rebound.

Pi Network price chart | Source: TradingView

Cardano price prediction Charles Hoskinson's Cardano token remains under intense pressure this week as the crypto market selloff intensifies. It dropped below the important support level at $0.2330, its lowest point in December 2022, June 12, and September 2023. Losing that support was a sign that bears have prevailed.

The token has now crashed to a record low and has remained below the 50-day moving averages. The momentum is accelerating amid broader market weakness, and the coin has formed a head-and-shoulders pattern. Coupled with its weak fundamentals, where Cardano is widely seen as a ghost chain, the token will likely continue falling. If this happens, it will drop below the key support level of $0.100.

Cardano price chart | Source: TradingView

Pi Network price prediction Pi Network, a top and viral cryptocurrency, has slumped in the past few months and is now at its record low. While Pi has been slumping since its mainnet launch in February last year, the current phase of decline started in March after the Kraken listing. Data shows that the listing has not led to substantial demand from American investors. Other initiatives have also not worked out well. For example, the developers have continued to push network upgrades, which will lead to the launch of smart contracts. They also made some AI-focused upgrades and improvements this year.

Pi Network price chart | Source: TradingView

The chart shows that the Pi Network price has crashed below the Strong Pivot Reverse level of the Murrey Math Lines. It has also dropped below the 50-day moving average, while the Relative Strength Index has slumped. The coin will likely continue moving downwards in the coming days, potentially to the key support level at $0.100.