Pi Network (Pi Coin) is experiencing an ongoing fall trend that worries many investors. Despite the latest price struggles, there are speculations that Altcoin may be on the verge of a break. However, existing market conditions show that such a rally may face significant challenges. According to crypto analyst Aaryamann Shrivastava, traders, aware of the uncertain environment, are preparing for a potential price collapse rather than a break.
Pi Network Investors ‘Bear’ appearance is strengthening!
Pi Coin Traders, as the highly negative funding rate in the futures market reflects themselves for a bear trend. The funding rate shows that more market participants keep more Short contracts than long contracts. This indicates that traders expect a price decrease. The final date of the unpaid period recognized for KYC and Mainnet Migration to investors increases concerns. Not doing this until March 14 today may lead to avoiding losing most of the balances of investors, except Pi Coin, which was issued within the last 6 months before the transition.
This feeling can also create a heavy burden on Altcoin’s rapid recovery potential. The reason behind this is that investors may want to get profit from short -term earnings and to benefit from the expected decreases.
Pi Coin funding rate. Source: coinglassMacro view also has a decrease signs!
For Pi Network, the general macro momentum shows signs of decrease. The basic technical indicators such as moving average convergence deviation (MACD) signal that the subcoin approaches the decrease tendency. This indicator is often seen as a return trigger and shows that if the trend continues, Pi Network may experience more price decreases.
As MacD approaches the decline tendency, investors may be waiting for losses in the near future. This feeling contributes to the general cautious market environment surrounding Pi Coin, which has difficulty in finding a constant acceleration.
PI Network Macd. Source: TradingViewPi Network Price Estimation: Is it a collapse?
The token price is currently holding $ 1.67 at $ 1.67. While trying to get out of the decreasing channel, existing market conditions show that it may be difficult to break such a break. However, the excitement of Pi on the day can provide a short -term support and possibly accelerate PI to break its resistance.
If the Pi Network cannot leave the decreasing channel, it is at risk of falling to $ 1.64 support. This locking below may lead to the price of 1.43 dollars or below the price and an increase in losses. In this scenario, the subcoin may remain in a consolidation phase or maintain a decrease tendency.
PI Coin Price Analysis. Source: TradingViewOn the other hand, if the social media Hype surrounding the Pi Network Pi Day, it may exceed $ 1.98 resistance barrier. Successful overcoming this level will confirm a break and invalidate the appearance of fall. This will prepare the ground for more price increase and potential gains, but this will largely depend on market sensitivity and investor action.
The opinions and estimates in the article belong to the analyst and are not definitely investment advice. As Kriptokoin.com, we recommend that you do your own research before investing.
