Can it break above the 50-day MA?

Pi Network was struggling to follow the recent recovery in the cryptography market, down around 10% in last week.

At $ 0.5832, the token is currently negotiated about 80% lower than its $ 2.99 summit. The recent volume of trading, however, depicts a slightly different image. Pi Network (Pi) The volume of negotiation increased by almost 35% in the last day, exceeding $ 128 million. Although the technical image is still uncertain, it suggests that traders are again careful, which could be the sign of a more important decision.

The largest obstacle right now is the 50 -day simple mobile average, which is around $ 0.82. Pi is still below this line, and many other medium -sized medium -sized mediums such as the 10 days and 20 days also show a drop orient yourself.

The relative force is 38.7, which means that the token is leaning towards the occurrence, but not quite there. However, some indicators such as the convergence / medium mobile divergence suggest that buyers can enter slowly.

Bollinger groups show that Pi is near the lower strip, suggesting that it is negotiated in the lower volatility range and can be occurred. A rebound from here could bring the price back to the intermediary nearly $ 0.75, or more.

If Pi breaks above the 50-day SMA with a strong volume, it could push towards $ 0.85 to $ 0.90. A rally Formerly $ 1.00 would reverse the feeling, especially if they were motivated by major news. If the prices remain under moving averages and the sale continues, PI could hold the support nearly $ 0.55 or even drop to $ 0.45, near its historic hollow.

One of the biggest risks for the PI network is the token dilution. In April, 21.4 million new tokens were unlocked, worth around $ 12.3 million. We expect 131 million tokens should be unlocked each month for the next 12 months. Unless demand increases or the team takes measures, this gradual increase in supply could have a great effect on the price.

A solution could be a token burn. The PI Foundation currently has more than 70 billion PI tokens, worth more than $ 40 billion. To relieve the fears of investors and support the price, some of them could be burned. Wry burns can also be combined with fresh burning mechanisms.

Another potential catalyst registered on a major exchange like Coinbase or Binance. There is an increase in the positive feeling of the community for a future list, which, like other tokens, could unlock a new request and a new liquidity. For the moment, the capacity of Pi Network to transform the 50 -day MA into a support can be the first indication that the real force is coming back.