We expected yesterday that the price of the PI may lose support of $ 1.65 if something unexpected occurred on the most important day for society.
March 14 is an important date for the PI network since the currency was created exactly 6 years ago, and yesterday was the last day for their holders to do Kyc and deport to Mainnet.
However, we had a classic event “Selling News”, and while the entire stock and encryption markets recover, the PI Coin price decreased by 15 %, as it was now traded at $ 1.45.
Technical indicators show a declining momentum
Technologies do not look good now according to the Investing.com platform.
The MACD (average rapprochement) indicates -0.045. This negative value indicates that the short -term momentum is weaker than the long -term momentum, indicating that the pressure pressure is currently dominating the market.
The final oscillator It is at 50.007, which is almost exactly in the middle of its scope. This neutral reading indicates a balance between buying and selling pressure, but does not yet appear signs of a reflection from the current declining direction.
The change rate (ROC) is 5.616, which indicates that prices have increased by 5.616 % of a specific period in the past. Although this positive reading indicates some of the upward movement, it was not enough to overcome the last sale pressure.
RSI on the hourly chart is 35.9 while on the daily chart is 40. Both readings are less than the level of 50 neutral, indicating the declining momentum. Readings were not in the lands of sale (less than 30), indicating that the sale pressure can continue before the support is found.
There are some comments on x Among the different people who failed to complete the Kyc process, but it is not clear whether the Network PI team enables to solve these problems as there are many comments that have not been answered.
Also read: Experts expect that the price of XRP will reach “double numbers this course, the next triple numbers” – Here is the reason
Pi Coin Price Outlook for today
As these technical indicators and the last sale are taken into account, the Pi Coin is likely to continue facing the declining pressure today. The price may test the level of $ 1.40 as the following support zone. If this level continues, we may see unification between $ 1.40 -1.50 dollars throughout the day.
In the event of the improvement of the market morale and the buyers enter, the PI can be recovered and the $ 1.55 region, but it seems that the collapse above its highest levels yesterday is unlikely in the direct term. Traders should monitor their size as a potential sign on direction change, whether it is the negative or the beginning of the recovery.
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