Recently launched Pi Token went viral with rumors about surpassing Bitcon and Ethereum takes a toll after the world market was crashed. Pi Coin has taken a hard hit and decreased 24% in the midst of a huge market deviation of $ 160 billion. However, technical indicators suggest that a comeback could be in the making as the sales pressure weakens.
Nevertheless, experts are of the opinion that the price of Pi Coin could increase 50% to 100% if it secures a list on Binance. While the PI community is rooting for a rally and Pi Core Team is urging investors to stay strong.
Why did the PI network price fall?
The decline of Pi Coin comes when the wider crypto market is confronted with a sale. Trump’s rate policy creates a mess on the world market. Report Suggesting that institutional investors, including BlackRock, Bitcoin and Ethereum have loaded, and drag the entire market down. PI currently acts at $ 2.30, a decrease of 12.97% in the last 24 hours, with trade volumes that fell 56.7% to $ 1.53 billion. Market capitalization is now $ 15.2 billion.
What for the Pi -Muntprijs?
Technical analysis indicates a possible recovery. The relative strength index of Pi Coin (RSI) is on 31.36, close to sold -over territory. When RSI falls under 30, this indicates the seller’s exhaustion, which means that the price could bounce back quickly. Moreover, the price of PI is broken under the bottom line of the Bollinger bands, a volatility indicator That suggests that the coin is sold over and is due to a reversal.
Meanwhile a binance questionnaire Show that 86% of the participants prefer Pi -Munt on the stock exchange. A list would stimulate liquidity, acceptance and global trade accessibility, which could significantly influence the price of PI. If Binance Pi lists, an outbreak above $ 3.67 could push it to new highlights near $ 4.20.
Main levels to view
Pi-Munt must break above the $ 2.56 resistance level to activate a meeting to its highest highest point of $ 3-one increase of 44% compared to the current price. However, not obtaining Momentum can be sent further to $ 1.62. With the sale of sales pressure, all eyes are aimed at whether buyers intervene to push a backup of Pi Coin or whether the downtrend will continue.
Credit : coinpedia.org
