Pi Crypto Price Eyes A Breakout before consensus unanimously
The price of the PI network has risen in a high -sized environment on Friday, reflecting the largest Bitcoin and Altcoins of ALTCOINS.
PI currency (BayThe symbol rose to the highest level during the day at 0.78 dollars on Friday, its highest point since April 12, and 41 % higher than its lowest level this month. The size of 24 hours increased by 170 % to 353 million dollars.
Two of the broader factors led this assembly. First, Bitcoin rose (BTCMost of Altcoins rose, prompting the total number of encryption market to more than $ 3.25 trillion. This increase was due to the constant accumulation of bitcoin and the growing hopes of commercial deals between the United States and other countries.
Second, the PI network expects a major advertisement for the ecosystem next week. The timing is in line with the consensus event in Toronto, where the founder of the Pi Network Nikkolas Kokkalis is scheduled to speak.
This advertisement can be a partnership with a large company or an ecosystem to motivate developers, exchange menu or burn icon.
Rumors revealed the burning of the distinctive traction, after the data was revealed on the series A. transformation From 84 million PI to an unlimited address. some Analysts He suggested that these symbols have been transferred to provide liquidity to include a possible exchange.
The level -1 -1 exchange menu can serve as a large rise. For example, and Penguin birds ((PenguinPrice jumped with double numbers on Friday after being inserted into APBIT, which is the South Korea exchange.
Symbolic burning also leads to an equivalent step because it will compensate for the continuous distinctive symbol. Data shows It will open more than 1.45 billion PI coins in the next twelve months, which reduces the list of menu. These abolitions led to the high supplies and contributed to the last collapse.
PI network price analysis
In line with the continuous modified currency prices here and here. In these articles, we pointed out the spread of the three -boundaries of the Bolinger ranges, and that he was in the accumulation stage of Wyckoff theory.
On the chart for 8 hours, the PI Coin reached 0.5577 dollars on April 29 before collecting to $ 0.7810 on Friday. This style has formed a cup of cup and handle, which is a wide upward upward pattern.
The cup depth is about 30 %. The measured transition from the penetration point indicates a potential goal in the upper trend of $ 1.10, which is 41 % of the current levels. This step can be achieved before the expected announcement on May 14.
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