PI network capacitors: Can Coin Coin rise?

Pi Network PRICE continued its downward direction this week, even with Bitcoin’s recovery and most Altcoins.

PI network (BayHe decreased to $ 0.7915 on Wednesday, its lowest level since February 2022, a decrease of more than 74 % of its highest level ever. The market ceiling decreased from nearly $ 20 billion to $ 5.35 billion, and 14.65 billion dollars.

Why the price of the PI coin was shattered

The PI network was crashed because more exchange lists remained far away a month after the launch of Mainnet. Most PI trading occurs in exchanges such as OKX, Gate.IO and Bitget.

The most prominent Exchanges, such as binanceCoinbase, and Upbit PI did not include it, making it not available for millions of users. Binance is a significant exchange because it is bigger in the industry, while Upbit has a large market share in South Korea, a country that has a very common PI. Coinbase menu will provide access to American customers.

Pi Coin Price also collapsed with demand among investors. According to Coingecko, its size was 24 hours a day Wednesday is only 213 million dollars. At its peak in February and early March, the average PI reached more than a billion dollars in daily size.

Moreover, the PI network was shattered with concerns about the distinctive symbol. PI scanning data The PI appears containing most of the traded and closed symbols and controls a large part of the width. The governor of the PI Seven Pi, listed at Explorer Hold, is estimated at $ 50 billion, which is a great focus.

PI holders have also sold their coins due to the upcoming symbol holes that will display the market with more supply. More than 1.6 billion new icons will be opened in the next 12 months.

PI network price analysis

The four -hour graph shows that the PI coin was a strong landing this month, as it crashed to the lowest point in more than a month. Less than the moving average has remained 25 periods, while the bull’s power index remained below the zero line since March 14.

The BBP index, also known as the largest radiology index, measures the strength of buyers and sellers in the market. Staying below the zero line is a sign that the bears prevailed.

The relative strength index moved to the level of sale, while the MACD index remained less than the zero line.

On the positive side, the currency formed the falling sorry pattern, with the two trends approaching the level of rapprochement. Therefore, there is a possibility that the metal currency will bounce soon and perhaps re -test the main resistance point at $ 1.8042, which is the highest swing on March 13. This goal of the price is more than 125 % over the current level.