Pi Network (PI) fell another 9 % on Friday, increasing its last declining momentum. The decline comes after Justin Bones described the project as a “possible fraud”, providing negative spirits.
Technical indicators such as BBTREND and RSI also indicate continuous negative pressure. Since the price is struggling with less than one dollar, traders are monitoring to see if PI can settle or whether the additional losses are in the future.
The PI Bbtrend network has reached its lowest level ever
BBTRand from PI Network is currently -40.69, which is the slightest reading ever and survival in the past five days. R.
BBTREND, or Bollinger Band Trend, is an indicator that measures the direction of trend and strength based on price movement for Bollegerer.
Positive values usually refer to the bullish momentum, while negative values indicate a decreased momentum, as extremist values often indicate strong directions.
With the PBTREND of the PI Smile deeply in the negative lands, it indicates the continuous declining momentum.
This may indicate that the sellers are firmly controlled, and the original may continue to confront the declining pressure unless a sharp reflection occurs.
The lengthy negative BBTREND often indicates that the market is in a strong declining direction, and merchants may remain cautious until stability marks or positive transformation appear.
Pi Network RSI recovers after touching the excessive sales levels
RSI retreated for the PI to 36.15 after it decreased to 17.5 just a few hours ago, showing a slight recovery in the momentum.
RSI is an index of momentum that measures the speed and change of price movements. The values above 70 indicate excessive conditions in the peak, and values that are less than 30 indicate that the original has its role.
The PI now is more than 36 years old, as it left the sale area, but it remains in the Habboudia.
This may mean that with the return of some purchase pressure, the general trend is still weak. The additional upward trend will rely on whether RSI continues to climb.
If RSI fails to rise, the PI network may remain vulnerable to additional corrections.
Will PI decrease to less than $ 0.90?
The PI network has recently decreased to less than one dollar level for the first time since February 22, when it builds the declining momentum. This decline comes at a time when Justin Bones revealed the faults of the PI network recently, raising concerns and describing the project as a possible “fraud”.
In the event that the correction deepens, the PI price can test the main support areas of about $ 0.81 and possibly $ 0.62.
However, if the PI network is able to restore strength despite criticism, it may push the resistance at $ 1.23.
The strong bounce can open the door to move about $ 1.79, but the feelings remain fragile after Bonns demands and the collapse of the last price.
Disintegration
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