The price of the PI network is 32 % risk

The price of the PI network was under pressure on Friday after the developers have postponed the period of allowing the deadline to verify the work.

The developers announced that the new deadline for the completion of the verification process will be on February 28. This represents the third time that the deadline has been extended.

Developers male The extension will allow the largest possible number of pioneers to perform the KYC operation and deport their distinctive symbols to Mainnet.

Pioneers who do not complete the process by February 28 will not be able to deport the distinctive symbols in the past six months, and the loss of the rest.

The developers noticed that Kyc delay It will not affect the deportation to the open network or Mainnet. They still expect the transition from the attached Mainnet to the public Mainnet in the first quarter.

However, fears within the PI community remain that the launch of Mainnet can also face delays. In December 2023, developers I mentioned Mainnet will go directly by the end of that year, however it did not happen.

Pi Network is an encrypted currency project that aims to improve current digital assets like Bitcoin (BTC). It provides an easy -to -use interface that enables users to mining PI coins, which they will be able to convert to Fiat coin after the launch of Mainnet. The project also hopes to obtain acceptance between retailers and e -commerce platforms around the world.

Technicians refer to more PI prices on the negative side

The daily chart indicates that the PI is still at risk of more declines. The price decreased to less than the moving averages for 50 days and 200 days, indicating that the bears remain in control. The currency also formed a pattern of a landfill, a historical negative technical indicator.

In addition, PI decreased to less than the main support level at $ 43.21, which is the lowest plasting point in November and December last year. It has also moved below the 78.6 % tradition level.

Given these factors, the currency is likely to continue to decline, as sellers target the lowest level last year at $ 29.35, which represents a 32 % decrease from the current levels. The step above the key to $ 50 will nullify the homogeneous expectations.

Editor’s note: The PI is presented by HTX and is not affiliated with the main PI project.