It seems that the distinctive PI icon for the PI network has entered into a standardization stage, as the price procedure has been launched. Since April 16, the distinctive symbol has faced resistance at $ 0.66 while supporting the support at $ 0.60, which created a narrow trading range.
This indicates a period of frequency in the market, with no PI buyer or sellers full control.
Pi work in forgetfulness
The AROON Index Readings at PI confirm the last recession in its price. As of the writing of these lines, the distinctive symbol line (yellow) is at 0 %, while its lower (blue) line is 14.29 %.
The Aroon Index determines market trends and determines whether the trend is strong or weak.
0 % reading on the Aroon Up line indicates that the PI has not reached the highest new level recently, indicating that there is no escalation momentum. Meanwhile, the ANON DOWN line decreased to 14.29 % that the distinctive symbol has not witnessed significant pressure as well.
This trend refers to a balanced market, where the bulls or bears do not take the initiative. Preparation confirms that PI is in a standardization stage, with the outbreak of either directions depends on the transformations in the market morale.
Moreover, the fixed decrease in the average real range of PI (ATR) since early March confirms the decrease in market fluctuations and the shift towards monotheism. At the time of the press, this indicator stands at 0.07.
The ATR index measures market fluctuations by calculating average range between high and low prices during a specific period. When it decreases like this, it indicates a decrease in market fluctuations, indicating that price movements have become less urgent.
This often indicates a period of monotheism or frequency in the market, where traders await a potential outbreak or a shift in the direction. For PI, this is evident as both buyers and sellers are visiting, waiting for a catalyst for their following moves.
Will PI to move to $ 1, or will the bears restore control?
The penetration – whether it is the bullish trend or the negative side – can indicate the beginning of a new direction, which makes the distinctive symbol to see it in the coming days. If the bullish pressure and the demand for altcoin mutations increases, its price may witness a rally and try to break the resistance at $ 0.66.
A successful breach of this level can pay the price of PI to $ 1.
On the contrary, if the bears regain full control over control and sale, PI can be broken from support at $ 0.60 and decreased to $ 0.50.
Disintegration
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