Market Buzz Grows Over Pi Day
PI Network’s local token PI rebounded after a few days of decline. It noted a 6% gain in the past 24 hours, trading at $1.47.
The recovery rate is before the PI day on March 14. There are also increasing market speculation about potential binance listings.
As traders gain confidence, PI gains 21%
PI has jumped 21.3% in the past 24 hours, as people are increasingly driving the potential binance listing and the upcoming PI-day announcement on March 14.
This date also marks the deadline for KYC completion and the migration of Pi Holdings from mobile apps to Mainnet. These upcoming developments have triggered a new wave of PI demand, bringing up and down pressure on its prices.
The steady increase in the relative strength index of PI (RSI) reflects a surge in spot market participants’ purchasing activity. The momentum indicator is Upward trend And be prepared to break the 50 centerline at press time.
When the asset’s RSI tries to exceed its 50 neutral level, it indicates that the momentum is shifting from bearish to bullish. This suggests that buying pressure is increasing and if the trend continues, it could lead to further price increases.
Confirmed moves with more than 50 moves will intensify positive sentiment around PI and attract more traders to look for The momentum is up.
Furthermore, its positive caikin currency flow (CMF) confirms this bullish view. This metric tracks how money flows in and out of PI, above zero above 0.16.
This trend shows that buying pressure is stronger than selling pressure for PI traders. It shows investors’ confidence in the asset, increasing the possibility of further price appreciation.
Pi Eyes recovery after steep drops – Can $2 be recovered?
PI has steadily declined, down more than 19% in the past week. This pushes its price toward a key price level of $1.62, which creates important resistance. If the bullish trend persists and demand for PI, its price may attempt to violate This level.
A successful disruption of over $1.62 could push PI over $2 and closer to its all-time high of $3.
On the other hand, a revival of profit-making will invalidate this bullish forecast. If Spike is sold again, the price of PI will resume its downward trend and fell to $1.34.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
