Pi Network (PI) entered the consolidation process after seeing new summits at the end of February. Technical indicators give mixed signals about price movement. If buyers seize power, PI may exceed $ 2 and test the $ 3 level. However, the opening of 188 million token’s locks can increase sales pressure on the price.
Technical data shows that sales pressure is strengthened for Pi Network
Pi Network’s DMI indicator indicates that sales pressure continues to increase. +The external level fell from 24.5 to 19.3, while -DI rose from 16.1 to 20.1. This change shows that bears seized control in the market and that buyers lose power.
In addition, the ADX value fell from 17.7 to 11.5. This shows that the current trend is weakened and a strong direction movement in the short term can be difficult. If +DI rises again and ADX is strengthened, the bulls can recover the market. However, for now, sales pressure weakens the likelihood of rise.
RSI is watching in the neutral region: rise or decrease?
The RSI indicator is at the level of 46.9 and has been fluctuating between 45 and 55 for the last eight days. This shows that neither buyers nor sellers can provide a significant superiority. If the RSI rises above 55, it means that the interest rate increases and the rise momentum is strengthened.
However, if the RSI falls below 45, it may signal that sales pressure may increase further and the price may decrease. The fact that the Binance list is still not happening can shake the confidence of investors in PI and create more sales pressure.
Can the Pi network price go to $ 3 or will it fall to $ 1.51?
Pi Network is currently in a consolidation process and in search of market direction. If buyers return to the market, new peaks can be seen up to $ 3 with a strong momentum with a 2 -dollar level.
However, if the sales pressure continues and investors exit before the large token lock is opened, the price may decrease to the level of $ 1.51. How the PI will move in the coming days will depend on whether the buyer or the seller will take control!
