Pi Network: Uncertainty is growing … Merchants are afraid of price drop

The constantly changing Kryptos market is a decisive image. While investors were waiting for stabilization signs, the asset faces a disturbing trend, supported by increased sales pressure. The expiration of the migration period to the mainnet in combination with technical indicators in the red zone nourishes growing uncertainty.

Sales pressure that intensifies

The future market sends critical signals for PI Network. Negative lifting of financing reveals the superiority of sales positions, reflecting the general expectations of a decline in prices. This phenomenon is explained by several key factors:

• Mignet migration deadline, set on March 14, which exerts PI holders who did not complete the Kyc verification;
• Loss of investors’ confidence, some prefer to liquidate their positions to avoid the end of unusable chips;
• Lack of support of the buyer who prevents assets from finding permanent dynamics ascending.

Many traders facing these uncertainties accept a defensive strategy that emphasizes the market pressure.

Serious technical signals

Technical indicators do not bring any calming elements. Among them shows MacD (divergence convergence of the gliding diameter) with a disturbing configuration with a possible immediate break downstream. If this trend is confirmed, PI Network could see that its price falls under its current support.

The critical levels to be monitored are:

• $ 1.64, which is currently the main medium in the network;
• $ 1.43, download level in case of support support;
• $ 1.98, a key resistance to be exceeded and hoping for a bull conversion.

If the network cannot maintain its support, it seems inevitable to accelerate the trend down, which increases the risk of moving investors.

PI DAY EFFECT: A possible catalyst?

In this climate, some analysts hope that the effect of Pi Day acts as a lever of recovery for crypto. This event, celebrated every year on 14 March, generally brought an increase in social network commitment, which could positively affect the demand for the network.

To play this effect in favor of the project, several elements must be unified:

• Significant increase in the volumes of exchange materials that reflect the renewed market interest;
• Resistance exclusion of $ 1.98, which could cancel the current trend down;
• Renewed enthusiasm of the community capable of generating ascending dynamics.

However, these conditions remain hypothetical and strongly depend on the general feeling of investors.

The future of the PI network is now based on its ability to exceed this critical phase. Two scenarios remain possible:

• Bull Scenario: Crossing $ 1.98 would allow you to break its down a channel that would open the way to permanent recovery;
• Fireplace scenario: A break below $ 1.64 could speed up a drop and send a network to new floors.

While the market oscillates between hope and caution, the next few days will be decisive for the project. The trust and social dynamics of investors will play a key role in developing the PI network price, which could either confirm its current weakness or find an unexpected ascending impulse.

Luc Jose A.

I graduated from Toulouse and Blockchain Consultant Certification Certification Certification Certification I attached to the adventure of Cointtribuna in 2019. I was convinced of the potential of blockchain to transform many sectors of the economy, and I committed to raising awareness and inform the general public about how the ecosystem took place. My goal is to allow everyone to better understand blockchain and take the opportunity they offer. I try to provide an objective analysis of messages every day, decrypt trends on the market, hand over the latest technological innovations and introduce the economic and social issues of this revolution.

Renunciation

The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.