The GME stock price has remained in a consolidation phase this year as market participants watched its core businesses, balance sheet, and its Bitcoin accumulation strategy. So, will the GameStop share price rebound after earnings?

GameStop’s business is showing mixed signals

GME, the popular video game retailer, is sending mixed signals. On the one hand, there are signs that the core business is doing well, a move that analysts expect will continue in the foreseeable future.

The most recent results showed that the company’s sales rose to $972 million in the second quarter, up from $798 million in the same period last year.

This growth brought its six-year revenue from $1.68 billion to $1.7 billion, a notable turnaround for a company whose business has been under pressure for a long time as consumers moved to digital video streaming.

GameStop also turned a bigger profit than was previously expected. Its net income rose to $168 million from the $14.8 million expected. The earnings-per-share rose to 38 cents from the previous 4 cents a year earlier.

Most importantly, the company has one of the best balance sheets in the retail industry. It ended the quarter with over 8.69 billion in revenue, up sharply from the $4.19 billion in the same period last year.

As a result, the company ended the quarter with over $10.3 billion in assets from the $5.5 billion it had in the same quarter last year. Total liabilities, on the other hand, moved to $5.16 billion. Most of this liability is the $4.16 billion in long-term debt it has accumulated.

On the other hand, GameStop’s stock price has struggled because of its Bitcoin accumulation strategy, which is showing signs of flipping. It now holds 4,710 coins currently worth about $434 million. At Bitcoin’s peak of $126,300, its hoard was worth over $595 million.

GME earnings ahead 

Looking ahead, the next key catalyst to watch for the GME stock price, which will come out on Tuesday this week.

Wall Street analysts expect the data to show that its revenue rose by 14.76% in the last quarter to $987 million. Its earnings per share is expected to move from $0.06 last year to $0.20 in the last quarter.

The company’s annual revenue guidance will be $4.16 billion, $8.76% increase from last year, followed by $4.28 in 2026. If these numbers are correct, and if Bitcoin price rebounds, chances are that the stock will rebound.

GME stock price technical analysis 

The daily timeframe chart shows that the GME share price has remained in a tight range in the past few months. 

A closer look shows that it has settled at the key support level at $20.8, a level it has failed to move below since April this year.

It is hovering at the 50-day and 100-day Exponential Moving Averages (EMA), while the Average Directional Index (ADX) has retreated.

Therefore, the stock will likely remain in this range in the coming days, and possibly rebound. If this happens, the stock will likely retest the descending trendline, which connects the highest swings since January this year.

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CoreWeave stock price has rebounded modestly in the past few days, moving from last month’s low of $65.43 to the current $88. Still, the stock remains much lower than the year-to-date high of $186, meaning that it has erased billions in market capitalization as its valuation dropped from $89 billion to the current $67 billion.

CoreWeave stock price has crashed as competition rises

The CoreWeave share price has been in a strong downward trend in the past few months, moving from the year-to-date high of $186 to the current $88. 

There are several reasons why the stock has crashed this year, including concerns about the rising costs in the AI infrastructure industry.

Most importantly, the company’s industry has become highly saturated as more companies have joined the sector. Some of the most notable companies that are investing in the data center business are popular names like IREN, Bitfarms, and Nebius. 

This competition means that, while CoreWeave’s business is growing, there is a likelihood that it may struggle to attract large hyperscalers like Microsoft, Meta Platforms, and Amazon as clients. 

In its case, the company generates most of its revenue from a few deals, including with Microsoft, OpenAI, and Meta Platforms. Its deal with Microsoft is worth over $10 billion, while the ones with OpenAI and Meta Platforms are worth over $22.5 billion and $14 billion, respectively.

The impact of the rising competition is starting to show as large companies have selected other similar companies in the past few months. For example, Microsoft recently inked a $9.7 billion deal with IREN, while Microsoft reached a bigger $14 billion partnership with Nebius, a company that was spun off from Yandex.

Meanwhile, TeraWulf, another Bitcoin mining company, has inked a multi-billion-dollar deal with Google. Therefore, while the need for computing is growing, CoreWeave may struggle to find many such deals in the future. 

This likely explains why its short interest has jumped to 8.53% this year. The other reason is that the company is highly exposed to OpenAI, a company that is expected to remain in the loss-making zone for years.

READ MORE: CoreWeave stock at risk after the $52B wipeout as insiders sell

Analysts expect the CRWV growth to accelerate 

Meanwhile, CoreWeave’s business is doing well, helped by the recent deals with companies like OpenAI and Microsoft.

The most recent results showed that the company’s revenue rose by 134% in the last quarter to $1.4 billion, while its backlog jumped by 271% to $55.6 billion.

CoreWeave’s capital expenditure stood at $1.9 billion in the last quarter, while its adjusted EBITDA was over $838 million, giving it a 61% margin.

Analysts believe that this growth momentum will accelerate in the coming years. For example, the average estimate is that the annual revenue will be $5.12 billion this year, followed by $12.05 billion in 2026, a move that will make it one of the fastest-growing companies.

CoreWeave share price technical analysis

The daily timeframe chart shows that the CRWV stock price has come under pressure in the past few months, moving from the year-to-date high of $186 in June to the current $88.

It has recently moved above the important resistance level at $84.45, its lowest level in August and September this year.

CoreWeave stock remains below the 50-day and 100-day Exponential Moving Averages (EMA). It has also moved below the Supertrend indicator.

Therefore, the most likely scenario is where the stock makes a strong bearish breakout, potentially to the next key support level at $65.43. A move below that support will point to more downside, potentially to key psychological level at $50.

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The XRP price continued its strong downward spiral this month, moving to a low of $2 as investors waited for the upcoming Federal Reserve interest rate decision, which will come out on Wednesday. Ripple token was trading at $2.05, down by over 40% from its highest point this year. So, will it rebound ahead of the Fed decision?

Federal Reserve to cut interest rates 

The market belives that the Federal Reserve will cut interest rates by 0.25% on Wednesday, continuing a trend it started three months ago. This cut will bring the benchmark rate to between 3.50% and 3.75%, the lowest level since 2022 when it started hiking to counter the soaring inflation.

Bitcoin and other altcoins like XRP and Ethereum should do well when the Fed is cutting interest rates. Besides, the cut comes at a time when the market is waiting for the upcoming Santa Claus rally, which normally happens before Christmas Day.

However, there is a risk that the XRP price may continue its downward spiral when the Fed cuts this week. For one, the Fed cut will not be a big news to market participants as it has been priced in, with Polymarket data showing odds of over 95%.

Therefore, there is a risk that the market will sell the news when the Federal Reserve cuts interest rates in this meeting. For one, the bank may deliver a hawkish rate, with dissent from officials rising, with most of them pointing to the relatively high inflation rate in the country.

XRP ETF inflows continue 

Meanwhile, the XRP price is reacting to the ongoing ETF inflows, which are now nearing the important milestone of $1 billion.

Data compiled by SoSoValue shows that the ETFs have never had a day in the red. They added over $38 million in inflows on Monday, higher than Friday’s $10 million. This increase brought the total amount of money to over $935 million, and the net assets held by these funds to $923 million.

The Canary Capital XRPC continues to have the first mover advantage as its assets have jumped to over $346 million, much higher than Grayscale’s GXRP, which has accumulated $218 million in assets. Most of the inflows on Monday were on Franklin Templeton’s XRPZ, which had $15.2 million.

JPMorgan and other companies believe that XRP ETFs will continue to accumulate inflows in the coming months, with the cumulative figure coming in at over $8 billion in the first year. 

The XRP price also reacted to a report by Bloomberg on how Citadel and Fortress hedged their recent investment in Ripple, which valued it at $40 billion. These companies believed that most of Ripple’s market cap was derived from its XRP holdings, with the core business being much smaller.

XRP price technical analysis 

The three-day chart shows that the XRP price has been under pressure in the past few months as it crashed from the all-time high of $3.66 to the current $2.05.

It formed a double-top pattern at $3.3890 and a neckline at $1.6125, its lowest level on April 7 this year. It has also moved below the 50-day Exponential Moving Average (EMA) and is at the 50% Fibonacci Retracement level.

Top oscillators like the Relative Strength Index (RSI) and the MACD have continued moving downwards.

Therefore, the most likely scenario is where the XRP price continues falling as traders target the next key support level at $1.6125, the 61.8% Fibonacci Retracement level. 

On the positive side, the coin has formed a falling wedge pattern, which is made up of two descending and converging trendlines. This pattern may lead to a strong bullish breakout in the coming days or weeks.

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Lloyds share price has remained in a tight range in the past few days as the important resistance level at 100p remained elusive. It was trading at 96p as the post-Autumn Budget rally stalled. It has jumped by 84% this year, its best performance since 2012 when it soared by 86%. So, does the stock have more gains to go in the near term?

Why Lloyds share price is rising this year 

Lloyds Bank stock price has been in a strong rally this year, outperforming the FTSE 100 Index and most of its peers like Barclays and Metro Bank.

The rally happened even as the British economy remained in a bind, which was characterized by high inflation, taxes, and slow growth. 

One main reason for the rally is that the high inflation rate has pushed the Bank of England (BoE) to maintain a hawkish view throughout the year. The bank has benefited from high interest rates, which have increased the spread between what it pays on assets compared to what it pays on liabilities.

Higher interest rates have pushed the company to generate strong financial results. Its statutory profit after tax rose to £3.3 billion in the nine months of the year. Its return on tangible equity was 11.9%, down from the previous 14.6%.

The decline was because of its large provision on the motor insurance crisis. Its remediation cost for the nine months rose to £912 million from the £124 million it spent in the same period last year. On the positive side, the crisis is now nearly over, meaning that the company will not spend more money on it.

Rachel Reeves spares banks from windfall taxes 

Most recently, the Lloyds share price has risen as Rachel Reeves spared the bank from paying a windfall tax that some analysts were expecting. A few months ago, a top British think tank known as the Institute for Public Policy Research (IPPR) predicted that a windfall tax would raise billions of pounds without hurting the British economy.

Reeves judged that implementing the windfall tax would be retrogressive and make it tough for the country to attract more companies in the financial sector.

Lloyds Bank share price has jumped this year, mirroring the performance of other European banks like Unicredit, Standard Chartered, Deutsche Bank, and Commerzbank.

Looking ahead, analysts are a bit pessimistic about the company noting that it lacks a clear catalyst going forward. Analysts also warn that the company has now become highly overvalued and that it is due for a correction. In a recent note, MorningStar analysts noted the stock should be valued at 78p, which is much lower than the current 95p.

On the positive side, however, the stock will likely continue doing well as long as the global stock market bull run continues when central banks like the Federal Reserve and Bank of England (BoE) start cutting interest rates. 

Lloyds stock price technical analysis 

The daily timeframe chart shows that the LLOY stock price has remained in a bull run in the past few months and is now hovering near its highest level this year.

However, it has now formed a double-top pattern whose neckline is at 85.80p. The Relative Strength Index (RSI) has moved from the overbought point of 75 to the current 59, while the two lines of the MACD indicator are nearing their bearish crossover.

Therefore, there is a risk that the stock will pull back in the near term. If this happens, the next key support level to watch will be at 90p.

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The Qualcomm stock price continued its recent rebound in the past few days as investors bought the recent dip. The QCOM stock was trading at $175, up by over 10% from its lowest level in November, giving it a market capitalization of over $187 billion.

Qualcomm’s growth is continuing 

The Qualcomm stock price has jumped by over 47% from its lowest level in April this year as the artificial intelligence (AI) tailwinds continued.

The rally accelerated recently after the company unveiled chips, known as the Snapdragon 8 Elite Gen 5 Mobile Platform, that may compete with Nvidia in the future. 

It then continued after the company published strong financial results, which showed that its revenue rose by 10% to $11.3 billion.

More results showed that the company’s QCT’s revenue rose by 13% to $9.8 billion, while its IoT revenue rose by 7% to $1.68 billion.

The company has also boosted its forward guidance, and now expects that its first quarter revenue will be between $11.8 billion and $12.6 billion. 

Most of this growth will come from its Qualcomm CDMA Technologies (QCT) business, which it expects will make between $10.3 billion and $10.9 billion. 

The smaller Qualcomm Technology Licensing (QTL) business is expected to make between $1.14 billion and $1.16 billion. This business has an EBIT margin of between 74% and 78%, higher than QCT’s 30% to 32%.

Analysts expect its growth to slow

On the other hand, data compiled by Yahoo Finance show that the company’s revenue in the current quarter will be $12.15 billion, up by 4.11% from the same period last year. 

Analysts also expect that the annual revenue will grow by 2.92% to $45.43 billion, followed by $46 billion in the next financial year. These estimates mean that the company is not expected to benefit substantially from its AI investments. 

This slow growth explains why the company’s valuation metrics are not as fancy as those of other chip companies like Nvidia and AMD. Its forward price-to-earnings ratio has dropped to 14.43, lower than the sector median of 24. Its forward EV to EBITDA metric of 11.60 is much lower than the industry median of 19.

As such, these numbers mean that the company will need to come up with more innovative products to boost its growth. While its recently launched AI chips are good, chances are that they will not capture market share against other companies like AMD and Nvidia.

Analysts have a mild opinion about the company, with the average estimate among analysts tracked by Yahoo Finance being $191, up by 9% from the current level.

Qualcomm stock price technical analysis 

The daily chart shows that the QCOM stock price has rebounded from a low of $118.80 in April to $175 today. It has formed an ascending channel and remained above the 50-day and 100-day Exponential Moving Averages (EMA).

The stock remains above the Supertrend indicator, a sign that the bullish trend is continuing. Therefore, the most likely scenario is where the stock continues rising, with the next level to watch being at $185, the upper side of the channel.

However, the stock has formed a head-and-shoulders pattern, a common bearish reversal sign. This means that, while the stock has more upside, there is a risk that it may retreat, potentially to $160.

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The crypto market crash resumed last week as Bitcoin and most altcoins plunged by double digits. Bitcoin remains below the key support at $90,000, while Ethereum has dropped to $3,000. Other tokens like Cardano, Shiba Inu, and Dogecoin have also plummeted by double digits. 

Crypto market crash could stall in case of a more dovish Federal Reserve 

One potential catalyst that may help to stall the crypto market crash is the upcoming Federal Reserve interest rate decision,which will come out on Wednesday this week.

Historically, the final decision has been one of the most important ones in the market as it sets the tone for what to expect in the new year. 

This meeting will be key because it will shed more light on the divisions among officials, with some of them supporting cuts and others supporting a pause. 

For example, an official like Jeff Schmid has opposed cuts, arguing that inflation has remained above the target point of 2% for over 4 years. He argues that cutting interest rates will stimulate inflation.

On the other hand, some Fed officials argue that the bank should cut rates because of the cracks in the labor market. A report released last week showed that the economy lost 36,000 jobs, the worst performance in over 2 years.

Therefore, an interest rate cut and a dovish policy may help to end the ongoing crypto market crash.

Cardano Midnight mainnet launch

The other main catalyst for the crypto market will be the upcoming Midnight launch by Cardano, the tenth biggest coin in the industry.

Midnight is a major project that has been developed in the past few years, and Charles Hoskinson and the team believes that it will solve the main challenges facing the network. 

For example, they expect that Midnight will boost the network’s stablecoin volume and decentralized finance (DeFi) total value locked, which has lagged the market in the past few years.

Still, it is unclear whether the Midnight launch will have a positive impact on the crypto market, as Charles Hoskinson has a known record of overpromising and underdelivering. 

Top token unlocks 

The other main catalyst that may have a negative impact on the crypto market is the upcoming token unlocks. Data compiled by DeFi Llama shows that tokens worth over $30 million will be unlocked this week. 

Flare tokens worth over $3.4 million will be unlocked this week. Historically, the FLR token normally drops by about 10% ten days after the unlock.

Meanwhile, $10 million worth of EigenLayer tokens will be unlocked on Wednesday, while $20.3 million worth of Bluefin will be released. Other major tokens with unlocks this week are Aptos, Story, Arbitrum, and Starknet.

Crypto ETF inflows 

One reason behind the ongoing crypto market crash is that American investors have been pulling their assets from crypto ETFs. Data shows that spot Bitcoin ETFs shed over $87 million in assets last week. BlackRock’s IBIT ETF has shed over $2.7 billion in assets in the last few months.

Ethereum ETFs also shed over $65 million in assets last week, bringing the cumulative total inflows to over $12.8 billion. On the other hand, tokens like XRP, SOL, DOGE, LINK, and HBAR ETFs have done well in terms of inflows. A surge in inflows may help to offset the ongoing crypto market crash.

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The Hang Seng Index pulled back on Monday, even as China reported stronger-than-expected trade numbers and copper price neared an all-time high. The blue-chip index fell to H$25,833, down from the year-to-date high of H$27,300.

China trade surges as copper nears all-time high 

The Hang Seng and other top Chinese indices remained under pressure despite macro data showing that the economy continued doing well.

Data released on Monday morning showed that China’s trade surplus surged to $1 trillion for the first time this year as exports rose by 5.9% from the same period last year, while imports rose by just 1.9%. This increase happened as tensions between China and the United States cooled a bit after the first meeting between Donald Trump and Xi Jinping.

The rising Chinese trade numbers came a week after another set of survey data pointed to more economic slowdown in the country. The country’s manufacturing and services PMIs remained below 50, a sign that the economy was slowing.

Meanwhile, copper price continued its strong surge and neared a record high. It jumped to a record high of $11,705 a ton as analysts at Citigroup hinted that it had more upside to go this year.

Copper is an important metal often seen as a barometer for the world economy because of its role in key industries like manufacturing and construction. As such, the soaring price could be a sign that the Chinese economy is doing well since it is the biggest buyer.

Looking ahead, the next important catalyst for the Hang Seng Index is the upcoming Federal Reserve interest rate decision on Wednesday, which will set the tone for what to expect in 2026.

The Fed decision is key for the Hang Seng Index because of the peg that has always existed on the Hong Kong dollar. This peg means that the Hong Kong Monetary Authority (HKMA) always does what the Fed does.

Top Hang Seng Index movers 

Most companies in the Hang Seng Index were in the green today, with Pop-Mart being the top laggard as it dropped by over 7%. It has dropped by over 40% from the year-to-date high as the Labubu craze cooled. 

China Hongqiao, WH Group, ZTO Express, China Shenhua Energy, China Merchants Bank, and ICBC were the top laggards on Monday as they dropped by over 2.63%. 

On the other hand, Baidu stock price jumped by 3.70% after reports that the company was considering listing Kunlunxin, its chip business in Hong Kong, a move that will value the company at over $3 billion. It also jumped after Cathie Wood bought a stake in the company, a sign that she believes the company is highly undervalued.

The other top gainers in the Hang Seng Index are companies like SMIC, Ping An Insurance, Geely Automobile, Xinyi Glass, and China Resources Beer.

Hang Seng Index technical analysis 

The daily timeframe chart shows that the Hang Seng Index has remained in a tight range in the past few months. It has been inside the narrow channel between the support and resistance levels at H$25,190 and H$27,190 since October.

As a result, the stock is consolidating at the 50-day and 100-day Exponential Moving Averages (EMA), while the Average Directional Index (ADX) has plunged to 9.30, its lowest level this year, a sign that its volatility has faded.

Therefore, the index will likely remain in this range in the coming days as investors wait for the upcoming Fed interest rate decision.

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The Nikkei 225 Index was flat on Monday as the Japanese statistics agency published mixed economic numbers, which raised the odds of Sanae Takaichi’s stimulus passing in parliament. It was trading at ¥50,385 on Monday, slightly above the November low of ¥48,206.

Japan reports mixed economic data 

The Nikkei 225 Index has remained in a narrow range after a series of economic numbers from Japan. 

A report by the statistics agency showed that the economy expanded by 3.4% in the third quarter, higher than the sector median of 3.3%. On the other hand, the annualized growth rate shrank by 0.6% on a QoQ basis and by 2.3% on an annual basis.

This slowdown was mostly because of the falling capital expenditure and external demand, which dropped by 0.2% in the last quarter. This decline was offset by a small increase in private consumption.

These numbers will help to justify Takaichi’s stimulus package, which she announced last week, featuring the biggest domestic spending since the pandemic started in 2020. Officials expect that the spending will help to boost the economy by 1.4% per year in the next three years.

Still, analysts believe that the Bank of Japan (BoJ) will hike interest rates in its December 19 meeting, with officials arguing that the softness in key sectors like construction and exports will be temporary. 

A BoJ rate hike will be important as it will fuel a divergence between the US and Japan, with economists expecting the Federal Reserve to cut interest rates by 0.25% in this meeting. This explains why the Japanese yen has rebounded against the US dollar, moving from 157.8 on November 20th to 155 today.

The rising hopes for a BoJ hike explains why Japan bond yields have soared this month, with the ten-year rising to 1.95% and the five-year moved to 1.437%, up from the year-to-date low of 0.683%.

Meanwhile, the Nikkei 225 Index steadied as tensions between China and Japan continued, with Chinese jets pointing their radar at Japanese aircraft, leading to Japan’s prime minister vowing a response.

Top Japan stocks laggards and leaders

Most companies in the Nikkei 225 Index were in the red on Monday, with Softbank being the top laggard. The Softbank stock price has crashed by over 30% from the year-to-date high as concerns about its exposure to OpenAI jumped. 

The company has committed to investing up to $40 billion, a risky move for a company that is yet to be profitable and one that is facing substantial competition from companies like Google, xAI, and Anthropic.

The other top laggards in the Nikkei 225 Index were companies like Nippon Sheet Glass, Lasertec, Tokyo Electric Power, Komatsu, Hitachi, and Seven & I.

On the other hand, companies like Fujikura, Mitsubishi Estate, Japan Steel Works, Sumitomo Electric, and Tokyo Fudosan were the top gainers.

Nikkei 225 Index technical analysis 

The daily timeframe chart shows that the Nikkei 225 Index has rebounded from the year-to-date low of ¥30,825 in April to the current ¥50,523, mirroring the performance of the global stock market.

Most recently, the index has rebounded from a low of ¥48,206 on November 19 as it approached the year-to-date high of ¥52,627.

The index remains above the 50-day and 100-day Exponential Moving Averages (EMA) and the Supertrend. Also, top oscillators like the Relative Strength Index and the MACD have continued rising in the past few weeks.

Therefore, the most likely scenario is where the index continues rising as odds of a stimulus package in Japan rose. If this happens, the next key resistance level to watch will be at ¥52,627. A drop below the key support level at ¥48,205 will invalidate the bullish outlook.

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Legal & General stock price has held steady in the past few weeks, moving from a low of 230p in September to the current 248p. It has jumped by 30% from its lowest level this year, bringing its market capitalization to over £18.8 billion. This article explores whether LGEN stock is a good buy as its dividend yield remains at 8%.

Legal & General’s business is doing well 

LGEN, the giant British insurance company, is doing well, with its revenue and profitability continuing its upward trajectory.

The most recent results showed that the company’s earnings-per-share (EPS) rose by 9% in the first half of the year to 10.94p, up from the 10.07p it made in the same period last year. 

This growth happened across its three main businesses, institutional retirement, asset management, and retail, with its retail customers growing to over 12.4 million.

Its retail assets rose to over £300 billion, and the management expects to have between £40 billion and £80 billion in Workplace DC by between 2024 and 2028. It also expects that the retail operating profit will have a compounded annual growth rate (CAGR) of between 4% and 6% in this period.

At the same time, the management has continued to simplify its business by selling its US protection business and inking a partnership with Meiji Yasuda. It has also sold assets in its Corporate Investment Units as it seeks to become a simpler organization.

At the same time, the company has announced several major deals, including its investment in Propium Capital Partners, which will complement its stake in Taurus. The goal is for the company to become a major player in the real estate industry.

The recent results showed that the company’s core operating profit rose to £859 million in the first half of the year from £809 in the same period last year. At the same time, the company’s profit after tax rose to £316 million from the previous £226 million.

Legal & General is most loved because of its dividend payouts to investors as it has become one of the highest-yielding companies in the FTSE 100 Index. 

It has a dividend yield of 8.73%, higher than the FTSE 100 Index average of 3.12%. It is also higher than the British inflation of 3.6%, making it an ideal company for investment income. 

Indeed, the management continues to simplify its operations and expand in high profitable areas to boost its growth. It also has a encouraging ratios, including a capital coverage ratio of 217%. The management is also controlling costs, with its underlying cost growth rising by 1%.

LGEN share price technical analysis 

LGEN stock chart | Source: TradingView

The daily timeframe chart shows that the LGEN share price bottomed at 230p, its lowest level in September and October this year. It has now rebounded to 248p as the management continues to improve its operations.

LGEN stock price has now moved slightly above the key resistance level at 247p, its highest level on November 12. It has also retested that level, confirming a break-and-retest pattern.

The stock remains above the 50-day and 100-day Exponential Moving Averages (EMA), which have made a bullish crossover pattern..

Therefore, the most likely scenario is where the stock continues to rise, with the next key level to watch being at 260p, its highest level in August, up by 4.8% from the current level. A move below the key support level at 240p will invalidate the bullish forecast.

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The crypto market was highly volatile last week as Bitcoin and most altcoins plunged on Monday, and then rebounded sharply in the next few days. They then plunged in the final days of the week, with Bitcoin dropping below the important support level at $90,000. 

This article explores some of the top cryptocurrencies to watch this week, including popular names like Terra Luna Classic (LUNC), Starknet (STRK), and Pi Network (PI).

Terra Luna Classic (LUNC) in focus ahead of Do Kwon sentencing

The LUNC token was one of the best-performing coins in the crypto market as it jumped to a high of $0.000081, its highest level since January this year. It was up by over 400% from its lowest level this year, bringing its market capitalization to over $300 million.

Terra Luna Classic token jumped after the community members showed up at a major Binance event. Binance is a major part of the network and is responsible for most of the burning.

The next key catalyst for the LUNC price will be the upcoming Do Kwon sentencing in the United States for his role in the $40 billion Terra collapse in 2022. Kwon pleaded guilty for this collapse, and he now faces decades in prison.

Do Kwon’s sentencing will not directly have an impact on the LUNC token. However, it may lead to more activity from traders, which may trigger more volatility.

The daily timeframe chart shows that the LUNC price has pulled back from last week’s high of $0.00008060 to the current $0.000057. This retreat happened as some investors started to book profits.

Therefore, the most likely scenario is where the token’s volatility continues, with it dropping to the key support level at $0.000050.

Pi Network price in focus as triangle nears confluence 

The Pi Network price will be in the spotlight after the developers announced a major integration of artificial intelligence (AI) into its KYC operations. 

This new integration allows users to use the same underlying technology of Pi Fast Track KYC, which reduces wait time and makes it easier for users to move their tokens to the mainnet. 

It also resolves an issue of validator shortage in some countries and regions. Also, the upgrade enables more validators to move in a faster manner, and reduces the need for more human validator to verify accounts.

According to the developers, 17.5 million pioneers have already passed the KYC process, while 15.7 million of them have migrated fully to the mainnet.

Pi Network believes that the KYC process is an essential one in ensuring that the MiCA proposal is successful, as it is the only crypto project to implement it.

Technically, the Pi Network price is forming a symmetrical triangle pattern on the daily chart, and may likely move out of it this week, especially if the Federal Reserve cuts interest rates and maintains a dovish view. 

Starknet price in focus ahead of token unlocks 

Starknet token has come under intense pressure in the past few months, in part because of the ongoing crypto market crash. Another reason is that the network has become highly dilutive because of its token unlocks.

One of these unlocks will happen later this week when the developers will release 163 million tokens worth over $18.2 million. These tokens are worth about 1.63% of its market capitalization.

Other cryptocurrencies will unlock more tokens this week. Some of the most notable ones are Chainbase, Unibase, Rain, and Movement.

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