Pi Coin has suffered a loss of value of close to 60 percent in the last year, and last week, it showed a decrease of approximately 5 percent. Pi Coin, which usually constantly lost value, did not have a change in the unusual price today and remained constant at $ 0.36. Short -term technical indicators support the price, while deeper market trends on the uncertainties continued.
Short -term technical view
It was emphasized that the short -term technical development in the hourly graph plays an important role in the balance of Pi Coin. The 20 -period exponential moving average, the 50 -period average of the average ‘bull transition’ was defined as the transition and this, the price of $ 0.37 dollars was transferred. However, such transitions have previously created short -term movements, but did not affect the main price trend in the long term.
Experts, these hours on the basis of these developments alone does not completely remove the pressure on the price and the market to change the overall tendency of more comprehensive signals, he said. As can be seen in the previous examples, sudden upward movements remain short -term and then retreats at prices.
“Short -term technical indicators can offer temporary relief, but stronger findings are needed to return the general trend in the market.” he said.
Long-term trend and buyer-selling power
In the 12 -hour graph, although the price constitutes lower peaks, higher peaks in the relative power index (RSI) were observed. This situation, despite the sales pressure of buyers increasingly start to strengthen pointing out ‘positive incompatibility’ was recorded. Analysts stressed that such incompatibility is remarkable after a year when low levels are tested in a significant part of the market.
It was suggested that the RSI indicator was an acceleration indicator ranging from 0 to 100, and that this inverse relationship between the price and the RSI would be decisive as to whether the short -term positive appearance will spread to the long term.
IMPORTANT PRICE LEVELS AND RECOGNIZED BUYERS
Analysts pointed out that Pi Coin should exceed $ 0.37 in the hourly graph and then exceed $ 0.40 in the 12 -hour graph to exceed $ 0.40 in the hourly graph. It is emphasized that a break, especially at the level of $ 0.40, will represent a strengthening beyond short -term technical indicators.
Recently, sales pressure has decreased significantly and buyers have become more effective in the market said. It was also reminded that the process of processing the new PI/USDC pair on the OKX exchange led to an increase in market sensitivity. However, if the price hangs below 0.33 dollars, a warning that the current technical foundation will be invalid and new bottom levels could occur.
“If you go below the critical support level, new low levels may come up again if you go below the critical support level.” evaluated.
As a result, although the technical indicators sign a recovery signal in the short term, it is stated that more powerful and lasting signs should be expected to reverse the long -standing downward trend of Pi Coin.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
