Pi Network (PI) has decreased by 14 % over the past thirty days, as the market value has decreased to less than $ 5 billion and a distinctive symbol trading is less than one dollar since May 14.
Technical indicators continue to show the landfill, as PI struggle to penetrate through the main resistance levels. Ichimoku Cloud, BBTREND and EMA lines indicate constant weakness and bullish confirmation. Unless the momentum turns soon, PI may face a negative aspect before any meaningful recovery is formed.
The PI faces severe resistance
The Ichimoku cloud shows that the PI (PI) is still under strong declining pressure. The price continues to trading without the red cloud, indicating that the declining momentum still dominates.
The leading period A (Green Line) remains under the leading period B (red line), which enhances the structure of cloud landing forward.
The cloud is wide and declined, indicating that any possible reflection may face significant resistance soon.
Tenkan-Sen is flat and hovering near Kijun-Sen (red line), and it appears momentum and a short term in the market.
In addition, price candles are pressed within a narrow range, indicating monotheism without clear outbreak.
The trend remains negative until the price moves decisively over the cloud and turns the upward lines.
Pi bbtrend settles, but the homosexuality remains in place
The PI network continues to show a weak momentum, with its BBTREND index at -2.21, which has not changed almost in two and a half days.
The index remained in negative lands over the past 14 days, as it recorded a sharp peak up to -18.7 one week ago.
While the recent stability indicates that the declining trend may lose strength, the PI has not yet appeared signs of a meaningful upward reflection.
BBTRIND (Bollinger Band Trend) measures the strength and direction of price movements for Bollengerer.
Positive values indicate the upscale momentum where the upper range is paid, while negative values indicate the landfill conditions while keeping prices near the lower range.
The current BBTrend of PI in -2.21 reflects a moderate decline -less than ever, but still lacks upward pressure. The indicator should cross into a positive area and adhere to the feeling of transformation.
PI Breakout can lead to a 37 % gathering
The price of PI remains in a declining technical preparation, as its EMA lines display short -term averages without that long -term.
This alignment confirms the continuation of the declining trend unless the momentum is transformed useful.
If the declining pressure is building, the PI can re -test the main support levels, and the first time will be the first time that the asset decreases to less than a major historical threshold – increasing the risk of the negative side.
However, if the purchase pressure is enhanced, PI can test the resistance in the following important EMA.
A successful collapse above this level, with the support of a strong momentum, can open the door to a wider restoration.
In the upscale scenario, PI can be climbed towards higher resistance targets, providing a potential bullish for more than 35 %.
Disintegration
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