The similar triangle triangle style indicates that the high price of the PI 20 % is waving on the horizon. This bullish view comes amid a wave of negative news, including the distinctive symbol and interests on its lack of decentralization. However, after the last inserts of the PI coin on Crypto Exchange Kakeen, the United States, the interest of the investor was renewed. As a result, the open interest of the PI added about 3 million dollars in less than 12 hours.
PI Coin Price PRICE Style Slipping 20 % Rally
The PI Coin price is trading at $ 0.74 with a loss of 4 % during the day after depositing the distinctive PI code worth $ 2 million. However, in the four -hour graph, it seems that the PI is preparing to reflect a rise because it is trading in a similar triangular style.
The similar triangle pattern usually shows that merchants are not decisive with the sizes of the purchase and sale side. At the time of the press, Pi Coin sizes reached 24 hours 122 million dollars per each Data from CoinmarketCap.
However, after the price tested the limits of low support, she wore a reserve, which led to the bulls targeting the upper resistance line. In the event of an upward outbreak, the price of the PI coin will increase by approximately 20 % of the upper resistance line. This penetration will not happen unless the upscale momentum that was seen last week returns and sizes by the purchase in the height again.
The price of the price of the Pi oud network also depends on the price of the SMA level for 200 days, which currently operates as a resistance. By looking at the previous trends, the high price usually entails when the PI defends SMA for 200 days as support. If the bulls can overcome this resistance, then SMA for $ 50 at a value of $ 0.86 will be the next goal before the price reaches $ 0.92.
The main obstacle to this upward view is support in the lower limits of the similar triangle. If this support fails to keep, it is possible that the price of the PI currency will be suspended to $ 0.61.
The open interest of the PI network reaches 21 million dollars
The Open interest of the PI network was 21 million dollars after an increase of more than $ 2.9 million within six hours, despite the price of the PI metal that faces uncertainty. This increase highlights the increase in speculative interest towards PI, and this may be a catalyst for future price growth.
The high open interest coincides with a sudden reflection in the financing rates. After short stirring for a short period, the Pi Coin financing rates are again on the positive side, a sign that the long benefit has returned with the expectation of investors to rise.
The increasing open interest coincides with the appearance of Pi Coin’s futures in Excination Kraken. As said Coingepe, the Kraken Futures Futures list was a major development of the new symbol, whose price was struggling due to the lack of bi -ups.
In short, the price of the PI is at a pivotal point where the similar triangle pattern appears to be not cautious between both buyers and sellers with the contraction of trading sizes. However, with the high open interest and the pi breaks the resistance in the upper direction line of this triangle style, it will result.
Related questions (common questions)
The similar triangle style shows a non -improvement among PI traders about price performance. However, if PI can turn resistance in the upper border line, it will lead to a footnote about 20 %.
The increasing open interest is upward for the price of the PI, because the financing rates are also positive. This highlights the accumulation of long situations.
The price of the PI network may accumulate to $ 0.92 before the end of May. This gathering will occur if the PI comes out of the similar triangle style.
Metouni
Muthoni Mary is an analyst and writer in the veteran encryption market that has more than three years of experience in dissecting Blockchain trends, price movements, and market dynamics. Through the acute eye of technical analysis and an in -depth understanding of the scales on the series, it provides insightful -based content that helps investors to move in the world of fast -paced digital assets.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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