Can he break over the 50-day mom?

PI Network struggled to continue with a recent recovery crypto market, made about 10% over the past week.

At $ 0.5832, the token currently trades approximately 80% lower than its all times of $ 2.99. The recent scope of trading, however, images a slightly different image. PI Network (Write) Trading volume increased by almost 35% in the last day, exceeds $ 128 million. Although the technical image is still uncertain, it suggests that traders pay attention to once more, which could be a sign of a significant move.

The biggest obstacle is currently a 50-day simple average of movement, which is sitting around $ 0.82. PI is still below that line and many other short-term average average as well as 10-day and 20-day, they also show a bear Trend.

The relative power is at 38.7, which means that the token leans towards resale, but not right there. However, several indicators such as movable average convergence / divergence suggest that customers can slowly enter.

Bollinger Bands Show PI is near the lower band, suggesting to trade in the lower range of instability and can be resold. Bouncing out of here could take a price towards the middle of the range close to $ 0.75, or more.

If PI is interrupted above the 50-day SMA with a powerful volume, it could be pressed at $ 0.85 to $ 0.90. A Rally Last $ 1.00 transfer would be sentimental, especially if the main news started. If prices remain under key moving averages and sales, PI could set support near 0.55 dollars or even drops to $ 0.45, near historical low.

One of the biggest risks for PI network is token dilution. In April, 21.4 million new tokens were unlocked, worth about $ 12.3 million. It is expected to be estimated that from 131 million tokens are unlocked every month in the next 12 months. If it does not raise demand or team do not take measures, this gradual supply increase could have a major impact on the price.

One solution could be a gouge combustion. Pi Foundation currently owns more than 70 billion pf tokens, evaluated at over $ 40 billion. To reduce investment fears and support the price, some of them could be burned. The offenses of the tokens can also be combined with compensation combustion mechanisms.

Another potential catalyst is enrolled in the main exchange like a tavern or stage. The setting of the positive community for the future list, which, as well as other tokens, could be increased, could unlock new demand and liquidity. For now, the ability of PI networks to take over the 50-day power can be the first indicator that the right power is returned.