Why is PI network price despite the CRIPTO recovery market?

PI Network price dropped below $ 1, which now trades from $ 0.92 after a drop of 4% in the past day despite the wider deadline in the market.

Pi continues to fight, down More than 65% of the earlier top of $ 3 this year. The growing pressure on the supply is one of the main causes of this decline. Toward data from Pi scanning, nearly 99.3 million pi (Write) Tokens, worth about $ 91 million at 15. March, should be unlocked in the next 30 days.

The 3 million token average will be unlocked every day during this period. 3. April, the greatest one-day unlock will be held, 6.8 million tokens in circulation will be held. With a total of 115.57 million in April, 182 million in May, and 222 million in June, even higher unlockings are expected in the future. More sales pressure can happen.

Uncertainty in the environment The environment also negatively affected the investor. Many people hoped for bitniters listBut they become all frustrated because there was no confirmation. Concerns regarding centralization is also growing.

Unlike most blocks in which nodes are running independently, Pi Core Tim is in charge of Pi Supernode. Although there are now 42 of these nodes, instead of only three in launch, PI Network did not clearly give as these nodes were selected.

Token burning, towards someone, can help in price stabilization. On Mar 24. Place on X, Criptocurrenci Analytic dr. ALTCOIN Recommends a bid reduction for 60-100 million PI coins to balance the market. Although PI network recently burned 10 million tokens, reducing the total number in circulation to 6.77 billion, the price did not significantly use this burn.

On the technical side, PI is traded from $ 0.9,253 and shows a weak trend. Support is at $ 0.70, and the price has problems withholding above $ 1.00, which serves as imminent resistance.

With Pi near the lower range, the Bollinger Bands show that the sellers control the crossing price. Although no cover levels have yet reached, a relative power index at 43.27 indicates a bear trend. Important movement of average (10, 20, 30 periods) indicate sales pressure, and the movement of the average convergence of the difference is also a bear.

PI can descend to region $ 0.70 if below $ 0.85. With $ 1.34 as the next target, a pause above $ 1.00 could turn the momentum. So far, Pi remains weak if customers do not push it more.