The PI Network made an impressive start this month, but the lifespan was short. The token has decreased by more than 75% near $ 3 dollars in February and is currently falling $ 0.6894, 6% in the last 24 hours and 15% per week.
PI Coin is a weak trend attached to a hard range.
The PI is currently trapped in a rigid range between $ 0.688 to $ 0.816, and is higher than the main support level. Despite the price cut, trading volume increased 42% last day to $ 145 million. However, according to the chain data, the inflow of exchange has increased, which shows that the PI, which is expected to sell 232 million PI coins in June, will be unlocked to 232 million in July and 132 million in August.
The trend of coins remains weakened with the major movement average (10, 20, 50, 100 days EMA and SMA) higher than the current price. Bollinger band is strengthened and MACD is negative. RSI is also neutral at 43.6. Unless the PI exceeds $ 0.75- $ 0.78, the next major support is $ 0.60 and $ 0.50.
If the purchase volume is picked up, you can resume the $ 0.85- $ 0.85 zone. But on the contrary, you can maintain a status between $ 0.70 to $ 0.76 from May 31 to May 31.
Does PI rebound more than $ 1?
At the end of the first half, PI can face more sales pressure by fear and suspicion. This can increase the price to $ 0.58- $ 0.65 in the short term. According to COINDCX, if the buyer interest rate and volume rise, there is a chance to rebound towards $ 1.00-$ 1.20. If you have momentum, you can finish at $ 1.82 in June.
But analyst Dr. Altcoin predicts that the price of PI can continue to fall until August and then slowly recover. He warned that the PI Core team could fall to $ 0.40 before it did not strengthen more transparency.
In the long run, PI Network is building value through a $ 100 million venture fund for actual use cases of Fintech, Gaming, E-Commerce and AI. But at this time, technical paintings weaken until demand increases.