Redstone (RED) has experienced a volatile week, climbing 25% over the past seven days despite pulling back 20% in the last three days.

This mixed performance reflects the current uncertainty surrounding RED’s price action. Technical indicators point to a market caught between consolidation and lingering bearish sentiment. While momentum indicators like RSI and ADX suggest weakening trend strength and growing indecision, price action continues to hold above key support levels.

RED RSI Has Been Neutral For The Past Two Days

Redstone’s RSI (Relative Strength Index) has slipped to 46.44, down from 53.93 just a day ago. This recent decline suggests that bearish pressure has been increasing, pulling momentum away from the bulls.

For the past two days, RSI has been hovering around the 50 level, which typically signals indecision in the market, as neither buyers nor sellers have had clear control.

However, the move below 50 today signals that bearish momentum is starting to tilt the scales.

The RSI is a momentum oscillator that measures the speed and change of price movements. It typically ranges from 0 to 100. Values above 70 often indicate overbought conditions, while readings below 30 suggest oversold conditions.

The 50 mark acts as a midline that traders watch to gauge shifts in momentum—above 50 imply a bullish bias, while below 50 leans bearish.

Redstone’s RSI is now sitting at 46.44 after hovering near 50, which could mean the market is gradually tipping in favor of sellers as Redstone tries to establish itself as one of the most relevant leaders in the Oracle sector.

This shift may indicate further downside potential unless bulls regain control and push RSI back above 50 to reestablish bullish momentum.

Redstone ADX Shows The Current Downtrend Is Fading Away

Redstone’s ADX (Average Directional Index) has dropped significantly to 24.9, down from 42.6 just two days ago. This sharp decline suggests a noticeable weakening in the strength of the current trend.

Previously, with ADX at 42.6, the market experienced strong directional movement, but the drop to the current level implies that the momentum behind that trend is fading.

Despite this, Redstone is still maintaining its position within a broader downtrend, indicating that bearish conditions have not yet reversed but may be losing steam.

The ADX is a technical indicator used to quantify the strength of a trend without indicating its direction. Typically, ADX values above 25 suggest a strong trend, while values below 20 often indicate a weak or non-trending market.

Readings between 20 and 25 are generally considered a gray area, where the trend might be losing conviction. With Redstone’s ADX now sitting at 24.9, it points to a market where the downtrend is still present but lacks the strong momentum it recently had.

This weakening trend could lead to potential price stabilization or even a short-term bounce, but as long as the downtrend structure remains intact, caution is warranted.

Will Redstone Rise Above $1 In The Next Days?

Redstone’s EMA (Exponential Moving Average) lines continue to suggest that the asset is in a consolidation phase. Its price action is moving sideways rather than trending strongly in either direction.

A key support level has been identified at $0.65, which is currently acting as a floor for price movement. If this support is tested and broken, Redstone could potentially fall further, with downside targets around $0.50.

Conversely, if the price starts to build bullish momentum, Redstone could attempt to break through resistance at $0.77. A successful breakout above this level could open the path toward $0.90 and $0.95, with the possibility of finally reclaiming the $1 mark for the first time since March 3, potentially making it one of the most trending altcoins in the market.

In Redstone’s case, the EMA lines reflecting sideways movement point to indecision among market participants. For now, the $0.65 support is pivotal – holding it could give bulls room to stage a rally while losing it could invite stronger selling pressure.

BNB meme coins are gaining traction as the BNB ecosystem experiences a surge. PancakeSwap has been leading DEX volumes globally over the past seven days, surpassing both Raydium and Uniswap.

Among the top contenders making waves are Mubarak, Palu, and FairMint, each capturing significant attention in this fast-moving space. Mubarak is leading the pack with explosive early growth, while Palu is emerging as a potential flagship meme coin. Meanwhile, FairMint is positioning itself as a unique launchpad, aiming to become BNB’s version of Pumpfun.

Mubarak

Mubarak has quickly become one of the most talked-about meme coins in the BNB ecosystem over the past few days. Yesterday, its market cap briefly approached the $200 million mark before pulling back to around $112 million today.

The project surged onto the scene with remarkable traction, fueled by growing hype and speculative interest in BNB-based assets.

In just a short period, Mubarak has gained over 20,000 holders, recorded daily volumes of $66 million, and witnessed nearly 35,000 transactions per day. However, despite this initial momentum, the token is now undergoing a sharp correction, down 25% in the past 24 hours.

Even so, with the BNB ecosystem continuing to attract fresh capital and broader market attention, there is still potential for Mubarak to rebound and possibly retest its previous highs near the $200 million market cap level if buying interest returns.

Binance’s Palu (Palu)

As BNB meme coins continue to dominate the spotlight, several projects are competing to become the face of the ecosystem, much like Shiba Inu did with Ethereum and Bonk with Solana.

One of the contenders is Palu, a relatively new token launched just under six days ago. Palu has already attracted nearly 5,000 holders and reached a market cap of $864,000, slightly down from its recent high of almost $900,000.

The project is positioning itself to potentially fill the role of a flagship meme coin within the BNB chain.

Despite suffering a sharp 75% correction over the past 24 hours – a scenario not uncommon among meme coins across various blockchains – Palu is still maintaining solid activity, with daily trading volumes near $4 million.

If sentiment in the BNB meme coins sector stabilizes and Palu regains its momentum, the project could attempt to climb back toward key psychological milestones, with market cap targets of around $1 million and possibly even $2 million in the near term.

FairMint FAIR (FAIR)

FairMint is a newly launched BNB meme coins launchpad that has been live for less than three days.

Trying to differentiate itself from other platforms such as Pumpfun, FairMint introduces distinctive mechanics.

For example, it enables all users to mint tokens at the same price while also ensuring that 95% of tokens maintain liquidity at the mint price via single-sided liquidity provisioning.

Currently, FairMint has gathered close to 3,500 holders, boasts a daily trading volume of $11.7 million, and records over 24,000 transactions per day.

While Pumpfun has established itself as the leading launchpad on Solana, the BNB chain still lacks a dominant player in this niche.

If FairMint can sustain its strong early momentum and community engagement, FairMint could be poised to push toward market cap milestones of $5 million and potentially even $10 million in the coming days.

Pi Network’s community sentiment poll on CoinMarketCap fell dramatically today, leading to allegations of bot activity. Negative votes swarmed the site’s poll, while other community ratings stayed positive.

However, there is no clear proof either for or against these claims. Pi Network has suffered criticism and price setbacks recently, and its supporters have swayed polls, votes, and ratings on multiple occasions.

Since its launch on February 20, Pi Network has seen more than its share of controversies. Critics have attacked its accessibility, governance, transparency, and more, and multiple governments have called it a scam.

Today, however, Pi supporters raised concerns about bot activity on CoinMarketCap after the token’s community sentiment plummeted:

“It looks like somebody is using bots to vote against PI. I am 99% sure this is not an organic poll. Over 1.94 Million votes is even bigger than the BTC vote. 77% of the PI community is bullish on CoinGecko. Why is it so different on CoinMarketCap?” a Pioneer asked on social media.

Specifically, this user noted that Pi’s community sentiment plunged 90% in less than a day and that this poll had more participants than Bitcoin’s.

Other platforms with a similar voting mechanism kept Pi’s rating steady, leading him to conclude that bot activity was involved.

It’s very difficult to assess the veracity of these Pi Network bot allegations for several reasons. First of all, the token’s price has suffered dramatically this week.

Many users lost huge sums of Pi tokens after the KYC migration deadline, and massive investor sell-offs have triggered a price rout. Some of this negative sentiment may be genuine.

Additionally, it’s interesting that CoinMarketCap is the only platform involved in the Pi Network bot voting allegations. The firm refused to acknowledge Pi as one of the largest tokens by market cap, but it eventually relented.

Either the platform or its community could bear resentment towards Pi after these setbacks.

Furthermore, the community does have a reputation for vote brigading. Bybit’s CEO has repeatedly criticized Pi, and the token’s supporters review-bombed the Bybit app in response. They did a similar practice with Binance after the exchange delayed a Pi listing.

Ultimately, it seems very unlikely that disgruntled Pi supporters or committed haters spiked this poll without any bot activity. The negative votes came in absurdly fast, were isolated to one platform, and exceeded the votes for even the largest cryptoassets.

As of now, it remains challenging to find definitive proof either way.