The PI network continues to struggle in the market, where its price remains in a declining path. Despite the previous optimism, investors were increasingly skeptical of the currency, which contributes to long trafficking.
The uncertainty about its value indicates that the PI network may go to the lowest new level (ATL).
The PI network is witnessing outward flows
The ADX (the average trend index) recently crossed the 25.0 threshold, indicating that the current declining trend is gaining momentum. This is a disturbing sign of the PI network price, as the increased decline indicates that it will be increasingly difficult for the coded currency in the short term. Noting the ADX to the continuous negative market forces, the PI price is likely to increase with its distinctive symbol approaching.
The increasing force of the declining direction is exacerbated by the invested uncertainty, as many question the long term for the distinctive symbol. This uncertainty can lead to further sale and lack of support for the new purchase, which makes it difficult for the PI to find a solid basis for recovery.
Macro momentum of the PI also draws a bleak picture of Altcoin. The money flow index (CMF), which measures the volume of money that flows into and outside the coin, was very negative. Although there is a slight height, the index remains in the negative area, indicating that investors are still hesitant to buy in the distinctive symbol.
The slight increase in CMF reflects simple capital flows, but this can be short -term if doubts persist. As investors and abroad flows continue, the PI Network faces great challenges. The current trend indicates that more external flows can occur if the currency reaches a new ATL.
PI price is approaching a new low
The PI network is currently trading at $ 0.70, a little higher than ATL of $ 0.62. Altcoin has witnessed a 12.8 % decrease over the past 24 hours after failing to restore $ 0.87 as support. This failure to restore previous support levels indicates a continued lack of investor confidence.
If the declining direction continues, the PI network is likely to decrease with the support level of $ 0.62, which may decrease to $ 0.50. The new ATL can be assigned with the market morale significantly on the price, which leads to more losses for current investors.
The only way to reflect the landfill expectations is for investors to change their approach and benefit from low prices. Increasing flows can increase the price of the PI network to more than $ 0.87, and if it exceeds $ 1.00, it will restore cash support and indicate a possible recovery for Altcoin.
Disintegration
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