🔮 Pi Network Eyes $1 — Support at $0.70 Ignites Bullish Hop
CryptoPotato
Updated at: a day ago
{"content":"🔮 Pi Network Eyes $1 — Support at $0.70 Ignites Bullish Hopes
Pi (PI) has dropped 10% over the last week and underperformed other cryptocurrencies because the community questions the most recent project choices and activities.
Three things must alter, according to one of the most active proponents of the project on social media, Dr. Altcoin, if Pi is to reclaim its previous grandeur.
The Pi Core Team should first refrain from announcing "overhype" new feature launches meant to generate a price comeback.
Other community advocates also assert that Pi should distribute the governance of the project so big exchanges like as Binance or Kraken may offer the currency.
At last, the Pi ecosystem must expand to include fresh real-world or on-chain projects enhancing the legitimacy of the network and highlighting its useful uses.
The most devoted supporters of the project prefer a pessimistic Pi pricing projection unless the Pi Core Team carries out some of these adjustments in the near future.
Looking at the daily chart, Pi has briefly found support in a critical range between $0.70 and $0.75. Given the price's higher low already at this level, the selling pressure could be declining.
Whereas the price has not moved over the previous 24 hours, trading volumes have dropped by over a fifth. Since this suggests that the coin has reached a local bottom, it supports a positive short-term Pi Coin price prediction.
Should the price remain over $0.70, the token may rebound over the following several days. In this situation, the 200-period EMA—which right now lies around $0.80—would be the main object of resistance.
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