PI Network has $ 0.61 support as RSI hints on a turnaround

PI Network displays signs of stability after maintaining support levels from 0.61, with a relative strength index that suggests a possible trend reversal.

With 6.9% by increasing trading volume of $ 139.4 million, Pi Networks (Write) has increased by 5.2% in the last 24 hours and now 14% in the last 30 days. The relative strength index, at 42.7, is currently simply above the territory covered.

Most of the movement of average still indicates a bear trend, but shows momentum indicators, such as the divergence of the average ranging convergence, indicating the opportunity to buy.

PI is traded below the important average moving on the daily chart, with a 50-day simple average average to 0.7978 USD and a 10-day estimated movement project at 0.61,6636 USD. However, the basis of support was established by consolidation in the range of $ 0.60 and $ 0.65 and tightening Bolling bands indicates possible passage. The next crucial level to turn on about $ 0.70 if the bulls can violate through resistance to $ 0.65.

Although the price stabilizes, several important factors will determine the long-term success of PI networks. Migration Mainnet is still in progress, with over 12 million users so far migrated.

A molder This focuses on the requests for processing requests, ending the initial migration, and then recently presented for periodic migrations. However, the timeline is not provided for these measures.

Pi’s top token is another challenge. With a maximum offer of 100 billion tokens, only about 6.7 billion tokens are currently in circulation. It is expected to be 1.5 billion tokens unlocked During the next year, or approximately 130 million each month. Supply growth without sufficient demand can cause prices.

However, the upcoming events can serve as catalysts. Nicolas Kokkalis, Founder of Pi Network, should give a speech on consensus in 2025 this month. Announcements regarding the new decentralized application or approval of your business can increase investor interest.

Although the feeling for now is still rough, coioncodex predict In order for Pi to increase by 227% to 2.02 dollars by the end of May. The main foreign currency list, which traders have been specifically guessing, could significantly increase market access and cause new rally.