For this reason, the PI Network will have big moves this week

The IOU price is determined by the PI Network, which is the price of the distinctive code or the promised or due currency, for a large week with the end of the time to check “Know your customer”.

KYC’s deadline for PI Network is approaching

Pi Network (PI), only available on HTX, was traded at $ 43.22 on Sunday, a few points higher than the double bottom point at $ 38.

According to Pi Network, Kyc’s deadline for pioneers will end on January 31. Rowades who have been verified hope will not be extended the deadline again because it has already been postponed twice.

The reason for these extensions was that although more than 13 million pioneers verified, only 8 million of them turned their coins to the main network. As such, the verification process is likely to know your customer (KYC) if at least 10 million of these members does their metal currencies to the main network.

Kyc checks is an important process because it is one of the three conditions that must be occurred before launching the main network. Another condition is that the network needs at least 100 ready -made applications for the main network.

In the last update of developers male There were about 80 apps, which means that 20 other apps should be ready before launching the main network. The third condition related to the external environment has already been met.

Therefore, the price of the PI is likely to rise if the developers confirmed that the launch of the main network will happen in this quarter. This launch will be important because it will allow the pioneers who minted the currency for more than six years to sell their property for paper currencies.

History shows that most Click to earn Distinctive symbols decrease after air landing. For example, coins like hamster kombat (Hummer), Katizen (KatyAll Dogs has been shattered with double numbers after its atmosphere.

PI network price analysis

The daily graph shows that the price of the PI fell to the main support level at $ 38 last week. This was a decisive level because it coincided with the lowest level in October last year. This is an indication that it formed a double bottom model whose neck line is at $ 91.50. The double bottom is a very common ups of reversal.

Therefore, the price of PI Network may jump at more than 110% if the developers confirmed the launch date of the main network. Such a price move occurred in October last year when he jumped from $ 37 to $ 100 in a few days.

However, another extension of the deadline is likely to lead to a strong collapse, perhaps to $ 30, which is the slightest swing in September.

Please note: IOU’s IOU does not belong to the real PI project. Instead, it is the ERC code only available on HTX and is often seen as an agent of the main project.