The price of the PI network, but it shows signs of recovery

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The price of the PI network is driven by limited exchange lists, the opening of the distinctive symbol, and a weak encryption market.
Technical indicators such as ADX and BBTRand are weakening the declining direction, hinting to a possible reflection.
The upscale collapse in April can pay the price of PI about $ 1.7980, especially with the main exchange lists.

the PI network Token also witnessed a dramatic decrease this year, as its value decreased sharply since its initial rise after the launch of Mainnet in February. Of nearly $ 3, the distinctive symbol decreased to about $ 0.7925, causing investors to incur significant losses.

Despite this declining trend, potential recovery indicators are seen.

Causes of the valuable PI icon loss.

The limited lists on stock exchanges were the main reason for low price. Although the Mainnet launch of the PI was a great success. The distinctive symbol was not included in the majority of the upper encrypted currency exchange. Binance, the largest exchange of cryptocurrencies, did not support the distinctive symbol, although 85 % of those who voted were supporting its list.

In the same way, it did not include other prominent platforms including Coinbase, Bybit, Kaken and Upbit PI in its available shows. Even BYBIT CEO questioned the legitimacy of the project, although developers in the PI have rejected such claims.

Fears of reduction in the distinctive symbol also reached the price. Another reason for gravity for the price of PI is the expected height in the distinctive symbol. In the next twelve months, about 1.6 billion icons will be opened. These cancels add the supply to the market, which reduces the value of property and pressure on the price of the distinctive symbol down.

The decrease in the encoded currency market also affected the problems of the PI network. The total cryptocurrency market has been less performance in the past few months, with bitcoin declining and Altcoins majority.

The conditions of macroeconomics, such as uncertainty over commercial policies and economic conditions, have affected investor morale, which led to widespread sales throughout the market.

Indications for a possible recovery

Even as the decrease continues, technical indicators show that sales lose Steam, and there may be recovery in the short term.

The low direction indicates a possible change. The average trend index (ADX), which measures the strength of the trend, decreased to 15 from the height of nearly 60 last month. The lower ADX reading indicates that the declining trend loses steam and may put the way to reflect.

The bullish difference in BBTRand involves a change in market morale. The BBTREND index, which tracks the expansion and narrowing of Bollengerer, has begun to display the upscale difference. This change may mean market morale and the possibility of a higher price movement.

There is a pattern of falling wheelchair indicating an optimistic reflection. The artistic style that develops in the PI price plan is a decrease. It is widely considered a very bullish reflection signal in technical analysis, indicating that the current trend of fall may end at any moment from now.

Predicting prices and market expectations

With technical training as of now, analysts expect a potentially upscale of PI during the month of April. In the event of a reflection of trend, the next critical resistance level for monitoring will be about $ 1.7980. It is a large batch of its current price.

Moreover, if the main stock exchanges decide to list the PI network, it may provide more momentum for the price equipment. Historical data showed that the exchange lists greatly affect the distinctive symbol prices, as shown in the OCA code, which rose by more than 200 % after adding it to Upbit.

Although the Pi Network has been struggled with the main price setbacks based on the lack of exchange support. The fears of symbolic mitigation, and the weakness of the market in general, technical analysis indicates a possible recovery. Investors will closely monitor as the main resistance levels and news about the stock market lists have the ability to dictate whether the PI network is recovering or not to the previous high levels in the next few months.