Key points:
PI (PI) announced the release of two major features on Friday, but the news failed to ignite the markets.
Although the price action has been positive leading to the event, it has since become a downward. What are the critical support and resistance levels to monitor? Let’s analyze the graphics to discover it.
Pi-Prix Pi
Pi exceeded the 20 -day exponential mobile average ($ 0.56) on Wednesday, but Bulls were unable to clean up the resistance to general costs at the 50 -day simple medium ($ 0.66).
The price has dropped and closed below the 20 -day EMA on Thursday, indicating that the bears remain in charge. There is a support at $ 0.47 and then $ 0.40. Although the mobile averages are sloping, the relative resistance index (RSI) shows the first signs of forming a positive divergence.
If the price bounces for $ 0.47 and exceeds EMA 20 days, it signals purchases at lower levels. The PI / USDT pair can then climb to the 50 -day SMA, which is a critical level of resistance to monitor.
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The 20 EMA is sloping and the RSI is near the territory of occurrence, which indicates that the bears are firmly in control. Buyers will try to start a rescue rally at $ 0.47, but can face high sales at 20 EMA. If the price drops sharply compared to the 20 EMA, the risk of rupture less than $ 0.47 increases. The pair can then sag to $ 0.40.
Conversely, a break above 20 EMA suggests that the Bulls are trying to return. There is a resistance to the 50-SMA, but it can be crossed. The pair could then climb $ 0.60.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
