The price of the PI network reaches the lowest level for 7 days amid the sale of the market
PI, the original PI symbol, witnessed a 22 % decrease over the past week, which expanded the scope of the lower direction to trading the lowest minimum for $ 0.61 at the time of the press.
The two numbers decline reflects the increasing feelings about the distinctive symbol and coincides with a wider contraction in the encryption market.
Expectations of me are exacerbated with the deepening of the declining direction
The global market value of the cryptocurrency has decreased by more than 5 % in the past seven days, threatening more than $ 170 billion. The retreat has rocked the investor’s confidence, which has led to new PI sales over the past few days.
The pressure on the sale side of the PBTRand index is evident, which has continued to print the red graph bars, a clear signal of the landfill. To this writing, the index sits in -4.52.
BBTRand measures the strength and direction of the direction based on the expansion and contraction of the Bollegerer teams. When the BBTRand values are positive, they usually indicate a strong upward trend, while negative values indicate an increase in the declining momentum.
PITREND is suggested to PI that its price is constantly closed near the lower Bollegerer range. This trend refers to the continuous sale activity and hints in the possibility of a continuous low price.
Moreover, the smart money index has decreased for PI (SMI) over the past few days, indicating an exit from “smart funds” or institutional degrees. This is often an indication of lower prices, as it indicates a decrease in confidence from these main investors.
SMI of assets tracks the activity of institutional investors by analyzing market behavior during the early and last hours of trading. When it rises, these investors increase the purchase activity, indicating the possibility of an expanded gathering.
On the contrary, as with the PI, when it falls, it indicates that the institutional demand for the original weakens, which indicates the possibility of more negative side.
Pi Teeers near the main support – will Bulls carry the line at $ 0.55?
PI climbing activity indicates that the symbol may be vulnerable to more short -term losses. If sales persist, Altcoin risk dividing the decisive support that was formed at $ 0.55.
If the bulls fail to defend this support floor, PI can reconsider its lowest level at $ 0.40.
However, the high demand in the new symbol can prevent this. If the PI Network Cress screws, they can pay for $ 0.86.
Disintegration
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