- The PI has an optimistic propulsion on a four -hour chart, but the lack of demand remains a continuous problem.
- The $ 0.66 and $ 0.8 level were the following significant obstacles of the PI network tokens.
PI Network (PI) has almost repaid profits in early May. In early June, the bulls seemed to be ruthless, and they were traded at a lower level than three months ago. At the time of writing, the level of Fibonacci rebsREMENT showed that the $ 0.8 level was the next major resistance of the day.
In early May, the PI Post had an optimistic move of 188%, and the price of 63%was deleted all profits in May. This volatility can surprise investors.
PI network tokens can struggle to recover
Source: TradingView’s PI/USDT
In the 12 -hour chart, the token seemed to form a descent net pattern. Such a pattern usually heralds the end of the fall. Beyond the pattern of the pattern is expected to see a powerful rally.
But there were some problems in the wedge patterns of the PI chart. The two trend lines were often not tested, especially the tendency to tend to be lower. From May 20-29, there was a large space at the bottom of the pattern.
Therefore, the wedge pattern is not clean, and investors should not yet expect a quick recovery. MFI has shown that momentum remains weak, and in the last 10 days, slow sales have occurred behind the PI network tokens.
Source: TradingView’s PI/USDT
On the four -hour chart, the downturn of OBV last week became clear. It emphasized the sales pressure on the PI that emphasized the lowest on May 8th. In the press time, the PI network token tried to expand the level of $ 0.66.
This effort may not be successful for a while. Especially because the OBV hasn’t canceled the decline yet. MFI has been strong, but PI will not be able to overturn the $ 0.66 level to support PI without steady demand.
Indemnity Clause: The information presented does not make up financial, investment, transactions, or other types of advice, and is entirely the artist’s opinion.