Pi Network has been experiencing stagnation for almost two weeks, the price not making significant movements.
Altcoin has faced mixed market conditions, but signs of emerging improvement. While the feeling of the market stabilizes, the PI network could see a potential recovery in the near future.
Network pi needs a support
The MOBILE Average Convergence Divergence indicator (MACD) indicates that the three -week -old pork of the network PI can soon end. The MacD line approaches a crossing with the signal line, which would confirm a bullish crossing. This technical signal often arouses the optimism of investors, leading to potential price gains.
As the Bearish Trend Weakens and the MacD Crossover Materializes, The Shift in Market feeling that reignite Investor Confidence in Pi Network. A bullish crossover would probably encourage the purchase of pressure, pushing the price.
Network’s macro dynamics also points to a possible recovery. The Silver Chaikin (CMF) flow recently plunged under the zero line, signaling outings from Altcoin. The CMF has reached its lowest point since early May, highlighting the uncertainty of investors. However, if the outputs are checked and the entries increase, the PI network could see a reversal in its price direction.
The erratic market behavior is mainly due to hesitation among investors, who remain cautious. However, If the Market Stabilizes and the Balance Shifts Toward Positive Inflows, Pi Network’s Price Could Benefit from Renew Investor Confidence.
Pi price jump?
PI Network is currently at a price of $ 0.64, holding above the support level of $ 0.61 in the last two weeks. Despite his inability to recover considerably, Altcoin remains above his level of support. If the entries improve and market conditions become upwards, the PI network could pierce its resistance at $ 0.71 and push higher.
If the feeling of the market continues to improve, the PI network could confirm an upward trend by successfully overthrowing the resistance of $ 0.71 in support. This would create a solid base for a sustained price increase.
However, if the outputs continue to dominate the entries, the price of the PI network will probably remain stagnating above $ 0.61. If market conditions aggravate, the price could slide less than $ 0.61, falling to the next level of support of $ 0.57. Such a decline would indicate that the upward thesis is invalidated and that recovery of the PI network can take longer to materialize.
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In accordance with the Trust project guidelines, this price analysis article is for information purposes only and should not be considered as financial or investment advice. Beincrypto is committed to exact and impartial reports, but market conditions are likely to change without notice. Always carry out your own research and consult a professional before making financial decisions. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
