Basic Points:
PI (Pi) announced the Release Of the two main features on Friday, but the news failed to fire in the markets.
While price action has been positively leading to the event, it has been bearish ever since. What are the critical levels of support and resistance to guard? Let’s review the charts to find out.
PI price prediction
PI rose above the 20-day average transfer of average ($ 0.56) on Wednesday, but the bulls could not clear the overhead resistance to the 50-day simple transfer of average ($ 0.66).
The price turned away and closed under the 20-day EMA on Thursday, indicating that the bears remain in command. There is support at $ 0.47 and then at $ 0.40. Although moving averages are slipping, the Kamag -child index of strength (RSI) shows the early signs of developing a positive difference.
If the price bounces at $ 0.47 and rises above the 20-day EMA, it signals the purchase at a lower level. The PI/USDT pair can climb the 50-day SMA, which is a critical level of resistance to guard.
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The 20-Em slipped, and the RSI was near oversold territory, indicating that the bears were firmly controlled. Consumers will try to start a relief rally at $ 0.47 but may face a strong sale at 20-ep. If the price drops dramatically from 20-em, the risk of a break below $ 0.47 increases. The pair could fall towards $ 0.40.
Conversely, a break above the 20-eema suggests that the bulls test a return. There is a 50-sma resistance, but it may cross. The pair can climb to $ 0.60.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
