Pi Network (PI), which started badly in April, was anxious to its investor with a 69 %depreciation. Token, which decreased to $ 0.5376 as of April 4, is under pressure due to both technical indicators and in -project problems.
PI price, which created a high expectation in March, suddenly faced harsh sales. Especially the lack of listing in large stock exchanges affected the interest of investor negatively. Is this decline temporary or more? As Kriptokoin.com, we transfer the details.
What does RSI and CMF say? Does technical data give hope?
The RSI data fell below 20 levels and showed that the over -selling zone was entered. This indicates that a technical reaction rise in the short term may come. Historically similar situations were short -term recovery.
However, Chaikin Money Flow (CMF) data is at -0.23. This reveals that there is more than money entry into the market. So, the sales pressure is still quite strong. Although a technically temporary leap is possible, the general aspect is still negative.
Not being listed in Binance damages market confidence
It was a major blow to Pi Coin’s Binance’s “Vote to List” program. This development weakens the likelihood of Pi’s list of large stock exchanges and shakes the trust of investors.
Failure to be traded on large platforms such as Binance limits the entry of new investors into the project to a significant extent. Staying out of the stock exchanges stands out as an element that undermines the potential of rise directly.
Pi Network Community Reaction: Leadership is losing confidence
Pi Core Team is receiving serious criticism within the community. The slow progress of the KYC process, the delay of the main network transition and the lack of transparency are among the most frequently expressed problems.
In addition, the inadequate monthly updates began to push the patience of the community. Users demand a more decentralized and accountable management structure. The future jumps may remain temporary without solving these problems.
Does Pi Network rise come? The transaction volume has increased but…
PI price decreased, the transaction volume reached $ 478 million. This increase may indicate that investors purchase from the bottom. However, the direction of the market still remains unclear.
Although there is a technical leap in the short term, a strong rise is required to be listed on platforms such as Binance, a transparent leadership and a clear road map. Otherwise, recovery may not be permanent.
