PI Network (PI) witnessed the recovery recently, but its upward momentum began to decrease. Will the price of money reach a new jump, or is it calm that precedes the big setback?
The price of the PI (PI) increased yesterday by 5% and is currently $ 0.6683, because digital currencies attend a resumption following the insurance of President Trump and the managers of the White House concerning their approaches to customs tasks and questions of monetary policy; The PI price remains 77.6% less than its highest levels recorded at $ 2.98; After the start of its movement down after the launch of the network.
The network is imposed on its users to undergo identity definition procedures (KYC) in order to receive Pi currencies, and this condition is one of the reasons for the price collapse of its incompatibility with one of the most important principles of blockchain technology; The main chipto trading platforms such as Binance and Coinbase have also rejected the inclusion of the currency due to the need to apply the company definition procedures (KYB), which caused reducing PI liquidity and affected its short-term expectations. Consequently, the technical indicators predict the continuous descending movement after the decrease in the increasing momentum, despite the price resumption of 8.1% in a week.
En readings indicate the possibility of declining Pi
The price plan reveals during the time of the PI emerging of the symmetrical triangle style with strong trading volumes and its direction quickly towards the large resistance zone almost $ 0.67.
The price is currently exceeded the medium seat movement for 21 days, while the indicators of Momentum reveal the entry of the emerging movement at the exhaustion stage, and the RSI index (RSI) recently reached the levels of hyper purchase to start its decreasing movement, because it has attracted an intersection under the signal line which predicts the landing and is general Resistance area and traders must be careful to deal with this emerging movement in light of the expectation of technical indicators of a price setback.
On the other hand, the level of $ 0.67 and the average of the movement if 21 days turned to support, while the Bitcoin-BTC price increased by more than 11% during last week to restore the optimism of its investors in the light of the IP suffering from reputation and low-momentum problems. Here, the new subscription role comes for the project BTC Bull (BTCBUL) which attracts a lot of attention, offering a pleasant and profitable way to effortlessly win the high price of bitcoin.
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Is the position the Pi currency heading for the complete collapse? The possibility of lowering the price to $ 0.40 if it appeared first on Arab Cryptonews.
