The price of the PI network is suspended by a wire. Currently, a merchant more than $ 0.44, the token may drop by 10% in the $ 0.40 area.
But while most indicators flash in red, a key signal is to suggest that the bulls could still look. If Pi Price manages to recover $ 0.47, this lower configuration can be completely invalidated.
Superrend flashes red
The Supertrend indicator, often used to locate market management, has been sitting above daily pi candles since mid-June. In simple terms, when the supertrend appears above prices action and is shaded, it signals a strong downward trend; Consider it as a warning to traders: “Don’t buy yet.”
This red zone continued to drop down, suggesting that the sellers remain firmly in control.
At the time of writing the editorial staff, the Superrend resistance is more than $ 0.5,450, well above the current price. Unless Pi closes above this threshold, the signal remains lower.
RSI bullish divergence is the only hope
Now for torsion. Despite the lower price trend, the relative force index (RSI) shows signs of hidden rag.
The price of PI has made lower stockings, between the end of June and July 15, but RSI, a Momentum tracker, forms higher stockings. This discrepancy often suggests that if the price seems low, the purchase of the pressure is constructed quietly below the surface.
The relative force index (RSI) measures the momentum following the speed and quantity of price of a part – the values less than 30 suggest that it is occurring, while the values above 70 mean that it is excessive. Pi, for the moment, approaching the 36 levels on the RSI, indicating that it could soon enter the territory of occurrence. If the market feelings remain optimistic, the prices of coins / tokens often appear after entering the occurrence area.
Exchange flows still not encourage
While the momentum can improve, the exchange entries tell another story. In the past 24 hours, more than 5.7 million pi have entered the CEX portfolios, according to piscan data. This generally suggests that the sale of pressure is always active, because traders move assets on the scholarships to potentially sell.
Analysis of Pi prices refer to a decrease of 10%
From the point of view of the price structure, Pi Coin lost its level of 0.23 Fibonacci at $ 0.47 and is now consolidated around the bar of $ 0.44. The next major medium is $ 0.42, and if it breaks, the market could darken another 10% compared to current levels.
This FIBONACCI’s trace reason for the latest high swing ($ 0.0067) at the recent low swing ($ 0,4200) and helps draw down the risk, or rather a lower bias.
If the PI price manages to return $ 0.47 in support, recovering the FIB, then the bulls could regain short -term control. But until it happens, the trend remains down. A clear surface trend if Pi manages to pass in front of $ 0.5142.
The PI price risks an accident of 10% to $ 0.40, unless the bullish divergence takes place. For the moment, the sellers are in control, but the indicators of Momentum suggest that this does not last forever.
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