Pi Coin recently faced a lack of growth, which made concerns that Altcoin could fall to its hollow of all time (ATL).
Although this has shown a certain resilience, market conditions and the feeling of investors suggest that a downward trend can be imminent for the PI room.
Pi Coin Coins Sork
The Chaikin monetary flow (CMF) for the PI part has decreased sharply, the indicator currently being below the zero line, indicating that the outputs dominate the inputs.
This decrease indicates that Pi parts holders actively remove their assets to avoid other losses. The CMF has reached a monthly hollow, showing that the feeling of Pi Coin becomes a lower.
The exit signals a lack of conviction among investors, who draw their Coan funds in the midst of increasing concerns concerning the future of Altcoin. If this trend continues, it could further exacerbate the drop in Pi Coin prices, potentially leading to new stockings.
The larger Pi Coin market momentum also seems low. The relative resistance index (RSI) for the PI room is currently seated below the neutral brand, indicating that the momentum of the Altcoin is lower.
This is also confirmed by the fact that Pi Coin dissociated himself from Bitcoin, who recently showed positive impetus.
The RSI Bearish reports that market players do not find important purchasing opportunities in the PI room at the moment. Without a clear upward trend in sight, the momentum remains low, and it is likely that Pi Coin will continue to cope with the pressure.
The price of the PI network needs a miracle
The Pi Coin price is currently at $ 0.469, holding above the level of key support of $ 0.450. However, Altcoin is only 14.8% potentially reaching its lowest of all time (ATL) of $ 0,400. If the downward pressure continues, Pi Coin could easily fall below this support and revisit its ATL.
Given the current market conditions, it is likely that Pi Coin will test this ATL and perhaps violate it. The absence of purchase interest and the growing outings suggest that Altcoin will find it difficult to maintain its current levels. If Pi Coin slides below the support of $ 0.450, it could form a new hollow and cause new drops.
On the other hand, if Pi Coin finds a renewed request among investors, it could bounce back on the level of support of $ 0.450 and exceed resistance at $ 0.493. This would open the door to an increase at $ 0.518 or more, invalidating the downward perspective.
However, this scenario seems unlikely unless a significant change in the feeling of the market occurs.
Post -i parts holders continue to sell while Pi Network is facing all time that Low appeared first on Beincrypto.
