An analyst talks about an important support zone that can decide the future route of Pi Network price. Pi Coin has lost 12 percent today with the opening of large output and upcoming token locks. The analyst set a $ 3.6 price target for PI Coin despite the last retreat.
Pi Coin Lock Opening is approaching
Kriptokoin.comAs you have followed, Piscan data showed that large pi network locks will be opened for the next 30 days. The highest locks are planned to be opened on March 17 and 21 March and more than 23 million PI locks will be opened every day.
In addition, a total of 282 million Token, worth $ 390.93 million at the current price, is planned to be released within the next 30 days. This large increase in supply can withdraw the price of the asset even further by triggering sales pressure in the market.
Pi Network (Pi Coin) price of the route of $ 3.6!
The Pi Coin price is consolidated above the important $ 1.05 dollar support zone. According to market analyst Rose Premium Signals, this level is vital for reversing a potential rise. The expert emphasized that Pi has now tested a significant level of withdrawal levels of withdrawal, which shows the possibility of recovery.
If Rose maintains its floor, it has further summarized its potential price targets for token. The first resistance is between $ 2,40 and $ 2.60, as well as in line with the level of 0.618 Fibonacci. If Pi Network manages to go above this area, the next price targets will be $ 3.00 and ultimately $ 3.60.
Source: Rose Premium SignalsA “a strong leap from support, can confirm that the rise will continue, Analyst Analyst says. Rose recommends that investors closely follow this level for recovery signs. In addition, Pi Coin began to be recognized in the real estate sector. This can increase its charm for investors. Recently, the real estate company Zito Realty LLC began to accept PI as the payment option. In addition, Pi Day (March 14) approaches, market participants expect more positive updates about the project. This can help the gains in the existence.
Pi network sales lead to speculation
The sudden decrease in Pi Coin price led to speculation about the cause of the decline. Some market participants pointed to a larger outlet from the Pi Core Team (PCT) wallet as a potential trigger. Crypto enthusiast Altcoin said that on March 7, approximately 90 million pi token came out of the Core Team wallet and followed 36.4 million toks the next day. This large -scale movement coincided with Pi’s price decrease and led to speculation that a sales were made by the team.
However, Piscan, a blockchain monitoring platform, rejected these concerns. They have announced that most of the outputs were routine distributions to users and have varying locking times. “These outputs are not about the latest price drop, Ç said Piscan, and urged investors to look at wider market factors.
