Pi Network Likely To Fall Below $0.60 Amid Token Unlock & Weak Sentiment: Analysis – CryptoMode
PI Network (PI) has been consolidating for more than 40 days now, with a price for awarded between $ 0.57 and $ 0.61.
A recent Tweet of Mood Jeff captures the atmosphere frankly:
This is aligned with the graphic data, which shows Pi stuck in a side canal with a weak momentum, even if the protocol continues to deploy upgrades of the Mainnet ecosystem.
Despite the increase in portfolio activation characteristics and migration updates shared by the PI Core team, Price has not shown no significant reaction.
PI remains firmly below the 21 -day EMA ($ 0.6370) and the 50 -day SMA ($ 0.7405) on the daily graphic. Until these levels are recovered, it is unlikely that the bulls regain control.
Unlocking and emissions from the PI network are still absorbing the bullish momentum
The fundamental weight on PI remains unchanged: the current unlocks continue to flood the supply. Although the unlock rate has slowed down from the previous 13 million pi per day to 3.8 million, it still wins from afar on current demand.
With 100 billion tokens as a maximum borne and only 7 billion traffic, the imminent threat of additional dilution is difficult to ignore. Adding to the strain, metrics like RSI (42.59) and the Stochastic oscillator (31,32) reflect a market without conviction. The MacD histogram remains flat near the basic line, showing no strong directional thrust.
A massive volume of tokens is still locked, but some holders are now resorting to the sale of whole wallets to bypass system restrictions – a symptom of decreasing faith in long -term vision.
Unlike the action at a lump sum price, the Official Pi Network Twitter account has increased news from the ecosystem. Updates include expanding activation of the portfolio for KYC'D users, renewed migration calendars and more transparency around food and tokel reward allowances.
According to the Pi Core team, the new features aim to expand the participation of the Mainnet and to integrate more users in applications, trade and areas based on PI.
The PI network has emphasized equity, progressive unlocking and alignment between mining awards and the distribution of the offer. However, the market remains indifferent – a likely consequence of the past delays in the PI network, the lack of high -level ads and repeated controversies.
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