It was a sea of red in the crypto market as Bitcoin and most altcoins plunged. This plunge happened as investors positioned themselves for the new crypto winter since June is one of the worst months in the industry. 

Crypto prices also dropped because of the ongoing Donald Trump and Elon Musk fallout, and the rising trade tensions. This article provides a forecast for some top cryptocurrencies like Zebec Network (ZBCN), Shiba Inu (SHIB), and Pi Network (PI).

Zebec Network price analysis

Zebec Network is a crypto project that aims to disrupt the financial service industry using the blockchain technology. It has a few solutions in its platform. WageLink is a payroll processing solution that is supercharged by blockchain. It helps companies pay their employees, including those in foreign countries.

Zebec Network has introduced Mastercard cards that enable users to pay using crypto globally. Most recently, Zebec acquired Science Card, a UK payment company with over 50,000 users. It also acquired Gatenox this week as it continues to boost its portfolio.

The Zebec Network price came into the spotlight recently as it surged from a low of $0.0007025 to a high of $0.0072, a 893% surge. This surge accelerated after the Science Card buyout and after the coin remained in a tight range for months. This consolidation was part of the formation of the accumulation phase of the Wyckoff Theory. 

The surge was the markup phase, which is characterized by high demand and low supply. It has now moved to the distribution and markdown phase.

The most likely scenario is where the ZBCN price continues falling to the important support level at $0.003340, the highest swing in April last year, followed by $0.0021, its highest point in February.

Shiba Inu price analysis

The Shiba Inu price jumped to a high of $0.00003345 in November last year, mirroring the performance of most altcoins. It then plunged by about 70% to a low of $0.000010 as the crypto market plunged and as focus shifted to Solana meme coins. 

Shiba Inu token attempted to recover this year, but found resistance at $0.0000176. It has now plunged to $0.00001200.

This decline happened after the coin formed a rising broadening wedge pattern. This pattern is made up of two ascending and broadening trendlines. It has now moved below its lower side and moved below the 50-day and 100-day Exponential Moving Averages (EMA).

The Relative Strength Index (RSI) and the MACD indicators have all pointed downwards. Therefore, the most likely scenario is where it crashes and moves to a low of $0.00001015, the lowest swing in April. 

Pi Network price analysis

The Pi Network price has plunged in the past few weeks as demand for the coin has plunged. It initially soared to a high of $1.6783 last month as investors waited for much-awaited news. This news was the launch of the Pi Network Ventures, which will provide $100 million to companies building on the platform.

Pi Network price has plunged to $0.60, where it has found substantial support. This price coincides with the ascending trendline that connects the lowest swings since April last year.

It has formed a triple-bottom pattern whose neckline is at $1.6783. This pattern often leads to a strong bullish breakout. Therefore, the coin’s outlook is moderately bullish as long as it remains above the ascending trendline. 

If this happens, the next point to watch will be the psychological point at $1, followed by the neckline at $.6783. A move below the ascending trendline will invalidate the bullish Pi Network forecast.

Read more: Pi Network price prediction: Top 3 reasons Pi Coin will surge soon

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The Nifty 50 Index surged on Friday after the Reserve Bank of India (RBI) delivered a bigger interest rate cut than expected and tweaked a cash requirement for banks in a bid to stimulate the economy. The blue-chip index, which tracks the biggest Indian companies, rose to ₹24,940, up by almost 15% from the lowest point this year. 

RBI interest rate decision

The main catalyst for the Nifty 50 Index was the Reserve Bank of India, which delivered a more dovish rate decision than expected. In a statement, the bank decided to slash interest rates by 0.50%, higher than the expected 25 basis points. 

It has now slashed rates to 5.5%, in a move that many analysts did not expect. On top of this, the bank moved its monetary policy stance from neutral to accommodative. This means that the next action will depend on key data on inflation, jobs market, and the GDP.

The RBI also slashed the cash reserve ratio by 100 basis points to 3%, a move that is expected to unlock almost $30 billion into the financial system. It hopes that these moves will stimulate the economy at a time when geopolitical risks are rising. 

Indian stocks surged after the RBI decision, while government bond yields plunged. The yield of the 10-year fell to 6.22% from the year-to-date high of 6.868%, while the five-year fell to 5.95% from the year-to-date high of 6.85%.

Stocks often do well in a low-interest rate environment because investors often rotate from the bond market. Analysts believe that the bank, under Sanjay Malhotra, will deliver at least two cuts later this year. 

Indian stocks performance

Most Indian stocks surged after the latest RBI interest rate decision. Bajaj Finance was the best-performing stock as it jumped by over 4%. Other companies in the financial services industry also soared, even though the rate cut will eat into their net interest income.

Shriram Finance stock rose by 3.7%, while Axis Bank, Bajaj Finserv, HDFC Bank, and Kotak Mahindra Bank rose by over 1.8% on Friday. The other top companies in the index were JSW Steel, Maruti Suzuki, Hero Motorcorp, Dr. Reddy’s, Adani Enterprises, and Jio Financial Services. 

Only a handful of Nifty 50 Index companies dropped on Friday. Tata Steel stock dropped by 1.21%, while Sun Pharmaceutical, Bharat Electronics, and Nestle India retreated by over 0.35%.

Nifty 50 Index analysis

The daily chart shows that the Nifty 50 Index bottomed at ₹21,745 in April and then bounced back to almost ₹25,000 today. It recently formed a golden cross pattern as the 50-day and 200-day moving averages crossed each other.

The index has formed a bullish pennant pattern, comprising a vertical line and a symmetrical triangle pattern. This pattern normally results into a strong bullish breakout over time. 

Therefore, odds are that it will have a bullish breakout to ₹26,280, the highest swing in September last year. A drop below the 50-day moving average at ₹24,250 will invalidate the bullish view. 

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The South African rand is in a strong rally this year, making it one of the best-performing currencies in the emerging markets. The USD/ZAR exchange rate plunged to a low of 17.75, its lowest point since December 12 last year, and 10.5% from its lowest point in April. 

South African government bonds have also surged. The ten-year yield dropped to 10% this month, its lowest point since January, while the five-year fell to 8.4% from nearly 5% earlier this year. Falling bond yields mean that their prices are soaring because of their inverse relationship. 

South African stocks have also soared, with the JSE Top 40 Stock Index jumping to a high of ZAR 89,130, up by 27% from their lowest levels this year. A closer look at the constituent companies show that most of them have soared this year.

Why the rand, stocks, and bonds are soaring

The South African rand, stocks, and bonds are soaring for several reasons. First, the USD/ZAR exchange rate plunged because of the ongoing US dollar index (DXY) plunge. 

The index, which tracks the greenback’s performance against a basket of currencies, has plunged to $98.80. It has plunged by over 10% from its highest point this year. 

The US dollar has plunged against most emerging market currencies. For example, the USD/RUB has dropped from 114.50 to 78.9, while the USD/CNY has moved from 7.35 in April to 7.18 today.

South African stocks and bonds, on the other hand, have reacted to the actions of the central bank, which has been cutting interest rates as inflation has cooled.

The most recent data showed that South African inflation moved to 2.8%, within the bank’s target. The central bank slashed rates by 0.25% last week, bringing the lending rate to 7.25%. It has now slashed rates several times since last year. 

Lower interest rates mean that South Africans who enjoyed high returns on their money market funds are now earning less. This means that some are starting to rotate to the stock market.

Further, stocks have jumped because of the recent gold price surge that has pushed gold mining stocks like Gold Fields and Harmony Gold much higher this year. Other key commodities like platinum and palladium have also done well this year, boosting their miners.

Budget, GNU, and power progress

The South African rand, stocks, and bonds have all plunged this year because of the progress the government has made in the power sector. While challenges remain, the power blackouts that were experienced a few years ago have improved this year. 

Further, the Government of National Unity (GNU) has held steady more than a year after its formation. Analysts hope that it will hold together as the leaders negotiate a budget deal. In a statement, an analyst from Merchant West Investments said:

“But the stricter fiscal spending and pragmatism about where we see the GDP level in future has given the market more certainty that Treasury is realistic and understanding of the need to address spending.”

Still, South African stocks, rand, and bonds face some risks ahead. For one, relations with the United States, a key South African trading partner, have worsened. There is also a risk of profit-taking among investors book profits. 

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Circle Internet stock price surged on its first trading day as a publicly traded company. CIRCL shares jumped to a high of $83, transforming it into a $18 billion company and one of the best initial public offerings (IPO) this year. This article explores whether Circle stock is a good buy today.

The bullish case for Circle stock price

Circle is a fintech company that runs the second-biggest stablecoin in the crypto industry. USDC, its stablecoin, has a market capitalization of over $60 billion and is the second-biggest name after Tether. 

Stablecoin issuers have one of the best business models. In it, users exchange their real money for a digital token, which they can send to other people or use in decentralized finance (DeFi).

The company then takes the money and invests it in liquid assets like money market funds, earning the extra return. As a result, it operates largely as a bank without having to follow the strict laws that banks face. 

The GENIUS Act in the United States confirmed that these companies will operate at a lower bar than banks. All they need to do is to ensure that funds are stored in the US and invested in highly liquid assets. 

USDC is highly regulated

The other bullish case for USDC is that it is one of the most regulated stablecoins in the industry. It is regulated in the United States, the European Union, the UK, and other countries, meaning that it will likely gain market share in the future. 

For example, USDC stands to gain when Tether’s USDT is delisted in Europe because it has skipped MiCA registration. 

The other bullish fact is that Circle’s business is still growing. Its S1 filing showed that it made $1.6 billion in 2024, up from $1.45 billion a year earlier and $772 million in 2022. It made $578 million in the first quarter and a net profit of over $62 million. 

This growth will likely accelerate as analysts predict that the stablecoin industry is just starting to grow. In a recent report, Visa noted that the amount of money in stablecoins will jump to over $3 trillion by 2030, while Citi sees the figure jumping to $1.6 trillion.

This growth will likely benefit Circle because it has the second-biggest market share in the industry.

Circle has other areas to grow. For example, it already runs EURC, a stablecoin backed by the euro that has over $200 million in assets. It has a chance to launch stablecoins of other currencies. 

It also runs the USYC fund, a tokenized money market fund that is slowly gaining traction. The Circle Payment Network is growing as it seeks to disrupt an industry dominated by Swift. 

Circle stock price has risks

There are risks for investing in the Circle stock today. First, historically, stocks that pop on the first day often go through a cooldown period as the momentum fades. In most cases, as we saw with Coreweave stock, buying the initial dip is usually one of the best approaches. 

Second, the actions of the Federal Reserve will likely affect the company. Interest rate cuts by the Fed will lower the money it makes from investing in treasuries. As such, the company will need to grow its ‘other’ income over time. 

Further, the stablecoin industry is set to become more competitive. PayPal has already launched its PYUSD, while Ripple Labs launched its RLUSD stablecoin. US banks are considering launching their coins, while Santander wants to do the same. Therefore, the rising competition may derail its growth in the future. 

Is CRCL stock a good buy today?

Circle shares popped on the first day of trading as investors bought the operator of the second-biggest stablecoin in the industry. The company will likely do well in the next decade as stablecoins become mainstream.

My expectation is that the Circle stock price will rise a bit, potentially to $100, and then it will retreat as the hype eases. A

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The GBP/USD exchange rate has been in a strong uptrend this year, and a unique chart pattern points to more gains in the coming months. It bottomed at 1.2100 earlier this year and reached a high of 1.3593. This article explores what to expect in the coming weeks.

US nonfarm payrolls and CPI data ahead

The GBP/USD exchange rate will be in the spotlight in the next few days as the UK and the US are set to deliver key economic numbers. 

The US will kick it off on Friday when it publishes the latest nonfarm payrolls (NFP) data. Economists expect the data to show that the labor market remained under pressure in May as companies moved into cash-preservation mode because of tariffs. 

The average estimate is that the economy created 130,000 jobs in Ma after adding 177k a month earlier. Some analysts, however, expect the NFP figure to be much lower than that, especially after the latest ADP report, which revealed that the economy created just 37k jobs.

The unemployment rate is expected to come in at 4.2%, while the participation rate will be about 62.6%.

US jobs numbers are important because they form part of the Federal Reserve’s dual mandate. A worsening labor market often triggers interest rate cuts as the Fed incentivizes companies to hire. 

The most important data will come out next week when the US publishes the latest consumer inflation data. Analysts expect the data to show that inflation rose because of Donald Trump’s tariffs. 

The average estimate is that the headline Consumer Price Index (CPI) rose from 2.3% in April to 2.5% in May, while the core figure jumped from 2.8% to 2.9% annually. The month-on-month data are also expected to move upwards from 0.2% to 0.3%.

If these numbers are correct, they mean that the Federal Reserve will maintain a wait-and-see approach on interest rates. Officials want to see the impact of Trump’s tariffs on inflation before starting to cut rates. 

Read more: ‘Not in a sweet spot’: JPMorgan’s Dimon sounds alarm on US stagflation, backs Fed’s rate hold

UK macro numbers ahead

The GBP/USD exchange rate will also react to macro data from the United States. A key data to watch will be the BRC retail sales monitor on Tuesday. Economists expect the data to reveal that retail sales did well in May. 

The Office of National Statistics (ONS) will then release the latest jobs numbers on Tuesday. Economists expect the data to reveal that the unemployment rate remained at 4.5%, as the economy created 80k jobs in the three months to April. 

The ONS will publish the latest GDP, manufacturing and industrial production, and trade numbers after this. 

These numbers will likely have a minimal impact on the Bank of England (BoE) monetary policy. Analysts anticipate that the bank will cut interest rates about 2 or three more times this year.

GBP/USD technical analysis

GBPUSD chart | Source: TradingView

The daily chart shows that the GBP/USD exchange rate has been in a strong uptrend in the past few months. It jumped above the important resistance level at 1.3430, the upper side of the cup-and-handle pattern. This pattern has a depth of about 10%.

Measuring 10% from the cup’s upper side shows that the target price is 1.4797. The other bullish case for the pair is that it remains above the 50-day and 200-day Exponential Moving Averages. These two averages crossed each other in March, forming a golden cross pattern.

This outlook matches with the recent US dollar index forecast by Morgan Stanley which expects it to keep falling,

The bullish GBPUSD forecast will become invalid if it drops below the 50-day moving average at 1.3288.

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