- summary:
- PI disrupted by 21 % after reaching $ 100 – is this the beginning of a greater collapse, or will the PI recover? Read about it here …
The last 48 hours were not less than the PI/USDT game for the PI network. The code exploded to $ 100, supported by severe speculation, before reversing the rapid path and lost 21 % in one day. PI is now trading about 61.77 dollars, leaving merchants wondering whether this represents the end of its wild gathering or just a short stop before the next big step.
The increase to $ 100 – what paid it?
The sudden increase in the price of the PI network was largely driven by the noise of social media and retail speculation. PI has always been an important topic for encryption lovers due to the unique mining mechanism and decentralization promises. This noise, along with delicate liquidity and limited menus, rapidly raised the price with the rush of buyers.
However, the mutation to $ 100 raised questions about sustainability. With the absence of clear updates from the PI network developers on its main launch or its broader adoption, achieving profits has become inevitable, which led to the dramatic sales that we saw during the past 24 hours.
Why does the PI network continue and what comes after that?
Divide was driven by a mixture of momentum in profit and inflammation. Often, speculative value symbols are very volatile, and the PI network is not an exception. The lack of the main exchange lists and the uncertainty surrounding its performance is added to the pressure pressure. Once the price reaches psychological resistance at $ 100, the sellers immersed the market.
Some merchants see that the correction is a health decline, while others remain cautious, given the history of the PI network of sudden fluctuations.
PI network scheme analysis – main levels of viewing
- Immediate support: $ 53.08 is the critical level of viewing. Failure to keep this can pay the price to $ 37.44.
- Resistance levelsThe first resistance is $ 65.94, followed by $ 75.16. A break above $ 75 can refer to a recovery of about $ 89.95.
- MACDThe bullish momentum faded, with an increase in landing signals.
- RsiLess heading but not overlooking, indicating the possibility of more declines.
What is the following for the PI network?
The PI network remains very speculative, and future price procedures will be largely dependent on market morale and other developments from its primary team. If the support of $ 53 continues, buyers can restore control and pay the code to $ 75 and beyond. However, the lower level of this level can lead to further sale, which opens the door to $ 37 or even less.
Currently, traders should remain cautious and closely monitor the main levels, as it is unlikely to fade the extreme volatility of the PI network soon.
