- Despite the price bounce in April, the sales pressure behind the PI was strong.
- After re -testing the nearby support level, the optimistic radiation of MFI can be interesting for the buyer.
The PI Network (PI) has been steadily declining in recent weeks. It still maintained a weak view, but in April, the downward exercise was relieved.
Can this be a remedy, or could Pi Bulls be built toward the escape beyond the main overhead resistance?
The possibility of PI rising is now slim.
Source: TradingView’s PI/USDT
On the day’s chart, the relevant sub -height and low low low low water are indicated in orange. This level is $ 0.84 and $ 0.52, which shows a place where the next market rescue occurs.
Beyond a certain level, moving will announce the location of the price of the PI next time.
The technical indicator of the day seems to be stabilized. The deep MFI in the area of the boom climbed towards the boom.
This change over the past two months has informed the strength of capital and the amount of exercise.
However, the A/D indicators slowed down in April but did not stop down.
This was still a sign of low purchases and the result of the MFI was not fully representing the PI situation.
Source: TradingView’s PI/USDT
The FIBONACCI RETRESSION level set, which has been expanded for four hours, was plot based on a rapid price bounce on Saturday, April 5.
The price of the PI network tokens for the press time is at 50% retreat of $ 0.595.
MFI was less than 50 in H4. It was 23 years old, and there was almost no excess, showing weak momentum and sales pressure. The A/D indicators have fallen down a few steps in the last two days.
This came out with a weak market rescue when PI Bears drove the price less than $ 0.71 (green). In the future, $ 0.595 and $ 0.55 are likely to be supported.
Indemnity Clause: The information presented does not make up financial, investment, transactions, or other types of advice, and is entirely the artist’s opinion.