The price of the PI network is at a critical turn among continuous symbolic holes that are likely to affect performance. These cancellation will continue until May 2025, and it is putting down a declining pressure on the price of the M -currency even as it fails to bounce from the level of support of $ 0.60. In this article, we explore if the upcoming operations of 212 meters will cause a crowd or lead to a crash.
The effect of the price of the PI network in 212 meters open
The data from PISCAN shows that the PI icons of the 212M network, which is worth about $ 130 million at the current price, will be included in the presentation in the next thirty days. This means that there will be an average of 7 million PI symbols per day until May 17.
This distinctive symbol will harm the PI network by increasing the distinctive symbol width even when the demand is low. Therefore, the distinctive symbol may record a sharp reflection in the direction or even combine it at the lowest levels of the current range if there is sufficient demand to absorb this supply.
However, an analyst Spok notes that X is below Current tokeenomics piThe distinctive symbol may prevent this collapse even as these diseases continue. This analyst added that more than 90 % of the headlines include accounts bearing less than 100 PI icons, indicating a great interest in the retail market. He added this if Coin Pi sees the requestIt may also prevent a crash.
Despite these upscale expectations, 23 whale titles contain more than 12 million PI symbols, which are more than 90 % of 13.2 meters distinctive symbols currently available on Mainnet. This indicates that whale addresses can affect the price of the original if they decide to sell, which highlights what is in the landing Pi.
As such, this distinctive symbol may lead to a collapse in the price of the PI network if the demand fails to absorb the sold coins sold.
Technical analysis of the PI network
The price of the PI network is trading at $ 0.61 today with simple profit 2 % in 24 hours. These gains indicate that the bullish momentum builds around this distinctive symbol, which may drive his car PI Coin fluctuations During the weekend.
In the price chart for two hours, the price of the PI network highlights signs of a possible reflection of the upward trend to the declining direction. The downward trend will be confirmed if the PI currency is less than the support in the neckline of $ 0.61.
Meanwhile, the relative strength index rises, indicating that buyers return to the market, which may help in the bullish direction of the PI currency price. Traders should pay attention to the intersection of the relative power index above 50 to confirm a transformation in the market structure.
Given the next cancellation of the distinctive symbols of 212 meters PI, the price of the PI network may decrease due to the increase in the supply with the appearance of the demand. In addition, the price chart for two hours shows that the declining momentum is based on the distinctive symbol that may raise a decrease to $ 0.44.
Related questions (common questions)
The price of the PI network is likely to be disrupted after 212 meters. This distinctive symbol will increase from the circulating offer and may suppress the performance if there is no high demand.
The main level to watch the price of the PI is $ 0.60. If Altcoin violates this support level, the declining trend may raise to $ 0.44.
The PI network cannot restore its highest levels if there is a height of demand and the distinctive symbol acquires the utility tool.
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.
partner: