The PI network decreased with double numbers over the past week, even with the wider coding market displayed on the recovery marks. The market value in Altcoin decreased to $ 4.1 billion, as PI continued to see intense sale pressure.
With the condensation of the declining pressure, the distinctive symbol can soon promote its lowest level ever near $ 0.40.
PI risk a deeper decrease
Despite some strength in the broader market, investor morale towards PI is still weak, with technical indicators indicating that low prices may continue.
RSI, a major momentum index that tracks the conditions of asset assets market and increased, continues to decrease, indicating low demand and increased sale pressure.
At the time of the press, the RSI PI’s is in the declining direction at 39.78. This RSI’s reading indicates twice the momentum and places the distinctive symbol over the sales lands, indicating that the continued pressure pressure may lead to more losses.
Moreover, the volume of the PI (OBV) also decreased, indicating a decrease in accumulation and a reduction in the buyer of the buyer. This indicator is at -1.26 billion at the time of the press, as it decreased by 15 % last week.
OBV measures the purchase and condition of the sale by tracking the flow of the size of the price movements. When OBV decreases like this, a larger volume is associated with selling more than purchase. This indicates poor investor confidence and the possibility of low prices.
Distinguished code risks to re -test its lowest level ever
Pi’s Rolumting Chaikin Money Flow (CMF) supports the above expectations. At the time of the press, this indicator, which tracks how the money flows inside and outside the original, is less than the zero line at -0.15.
This negative reading reflects the power of the pressure side of the sale in the PI Spot market. If this trend continues, PI can reconsider its lowest level at $ 0.40.
However, the bullish reflection in the current direction may pay the price of PI to $ 1.01.
Disintegration
In line with the guidance of the confidence project, this price analysis article is for media purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and unbiased reporting, but market conditions are subject to change without notice. Always perform your research and consult with a professional before making any financial decisions. Please note that the terms, conditions, privacy policy have been updated and the evacuation of responsibility.
