In the two -month space, the network lost almost 90 % of its value. The crypto went from $ 2.99 on the floor of $ 0.40. This collapse could sign the end of madness, but recent reflective attention revives attention. While some consider it a simple start, others evoke the beginnings of conversion. At a time when the project is preparing for a key step, the development of the course could redraw the trajectory of this controversial crypt in the coming days.
In short
- The price of the PI Network (PI) network (PI) has been involved in the market in February 2.99 at $ 0.40 and reached lower historians in early April.
- A bounce was observed after this cavity, and for the first time it seems that an accumulation signal appears on the graphics.
- However, the PI network does not exceed a resistance of $ 0.75, which is a key threshold to verify the potential conversion.
- A clear rupture over $ 0.75 could invalidate the downstream scenario and revive a speculative interest in PI.
Wall 0.75 $ resists network pi
Since its avert to $ 0.40, April, PI Network tried to exceed $ 0.75 without success without success. These canceled attempts, which were reported by net rejection of technical graphics, confirm the strength of this horizontal resistance.
The Pi network still failed to cross the horizontal resistant of $ 0.75, despite the beginning described as “The first hassier character since the beginning of the correction”. This reversal attempt is still too fragile to put it in the face of key technical slingshot.
Analysis of technical indicators strengthens this careful reading. Several signals are closer to the maintenance of lower distortion:
- RSI (relative strength index) remains under threshold 50, reflecting the persistent domination of sellers on the market;
- MACD (gliding with the average divergence of convergence) remains in the negative territory, without a significant bull crossing;
- A break in a symmetrical triangle, followed by a reversal of this structure as a resistance (zone of $ 0.75), confirms an analysis by which the remedial movement is far from being completed;
- Finally, the number of Elliott’s waves could lead to a fifth descending wave in training, with the potential to drop around $ 0.30, based on retracement fibonacci (1,27).
These elements, albeit purely technical, throw the shadow on the hypothesis of permanent conversion. Currently, the market structure remains unfavorable for immediate recovery.
Bull’s shaking of the Hope Mare?
Despite this technical hopelessness, some recent signals provide information about the possibility of conversion. The Pi Class is currently trying to create a higher than the previous cavity, a configuration that, if confirmed, would mean the first structural grade of turning the trend after weeks.
Pi Network could create a higher minimum, the first from the start of the trend down. This observation suggests that the market can start spending an initial fall to create a recovery base.
Another element of the reflection is the number of Elliott waves. It indicates that the crypto would be involved in the fifth downwall, generally the terminal. This scenario provides a potential download to $ 0.30, based on an external Fibonacci level.
Here, however, the whole ambiguity of the moment is located. If the course managed to invalidate this scheme by exceeding the line of resistance of a symmetrical triangle (which is exactly equal to $ 0.75), then all this lower reading would be questioned.
The future of the PI network will largely depend on its behavior in the face of this key area of $ 0.75. A clear and proven crossing could revive dynamics, attract new participants and cause a bounce of powered speculation. On the contrary, a new failure would confirm the continuation of a declining trend with more and more dark perspectives. In this technique, investors must prove increased alertness, as any premature decision could be expensive.
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A graduate of the Toulouse and the Blockchain Consultant Certification certification holder and I joined the adventure of Cointribuna in 2019. I convinced of the potential of blockchain to transform many economy sectors, committing to raising awareness and informing the general public about how the ecosysty developed. My goal is to allow everyone to better understand blockchain and take the opportunity they offer. I try to provide an objective analysis of messages every day, decrypt trends on the market, hand over the latest technological innovations and introduce the economic and social issues of this revolution.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.
