The price of the PI network in the upcoming series today, April 12, after a 10 % amazing profit recorded in the past 24 hours. These gains paid PI to the highest level of the day at $ 0.70, with the maximum market increase beyond $ 4.5 billion. This article explores whether the coin can maintain this gathering and what drives the momentum.
PI 12 % price gains in 24 hours
Pi Network Price has surpassed the rest of the encryption market this week with an amazing increase of 40 % in the past seven days. There are several factors that lead this upward trend, including market conditions and economic factors.
One of these factors is recovery through the broader encryption market. At the time of the press, most of the 10 largest green trading was in green.
The recovery of the broader encryption market can support the price of the PI network. Such gains may also turn market morale into positive, which supports a strong trend of the PI network.
The second factor that will enhance the gains is to convert macro conditions. A recent report issued by I noticed the times of Financial Times The federal reserve was ready to take measures to ensure normal life in the financial markets.
If the Federal Reserve interferes with Emergency rate discountsPI’s price recovery may enhance. The low interest rates will lead to the capital that can be used to purchase risk assets such as encryption, which will work well on the price of PI.
A Previous CoingApe article I also mentioned that the PI currency gains benefit. This high tool means that the investor’s confidence in the PI icon rises, which is good for the price.
Technical analysis of the PI network
The price of the PI network has a bullish structure and can extend its gains after today’s mobilization by 12 %. On the graph for 4 hours, the Pi Coin formed a triangle style, which often shows a bullish continuation. If the resistance area is violated at a price of $ 0.65, it will support the upcoming up Pi.
The RSI (RSI) index on the PI scheme has also increased to 66, indicating the increasing bullish momentum. RSI’s bullish trend also shows that the purchase pressure grows strongly.
The MACD index also confirms the ups of the PI currency price after forming an upper intersection over the signal line to enter the positive area. The growing graph bars show the appearance of buyer’s activity.
The price scheme for four hours shows that the price of the PI network may maintain its direction in the short term. If the market conditions remain the same as Bitcoin and Altcoins have the distinctive symbol can extend its gains. In addition, the shift in the American economic climate with a reduced federal reserve rate will enhance the gains.
Related questions (common questions)
The price of the PI network is gained today amid a wide recovery through the wider encryption market. An increase in the purchase activity also pushes the upward momentum.
Coin PI will reach $ 1 again if the purchase activity remains strong. Motivals, such as the exchange list, may maintain this upward momentum.
At the time of the press, the price of the PI Coin had already overcome the resistance at $ 0.65, which is also the upper trend line of a triangular style. This hints towards more gains in the future.
Metouni
Muthoni Mary is an analyst and writer in the veteran encryption market that has more than three years of experience in dissecting Blockchain trends, price movements, and market dynamics. Through the acute eye of technical analysis and an in -depth understanding of the scales on the series, it provides insightful -based content that helps investors to move in the world of fast -paced digital assets.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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