Pi Token Under Pressure as Supply Rises, But Core Team Stays Confident
- PI is down over 85% from its all-time high of a few months ago.
- Bear pressure persists for Pi with a potential to continue in the short term.
- The Pi core team foresees a bullish trend in the long term.
In the face of ongoing market uncertainty and a steep decline in its token value, the Pi core team has reiterated its confidence in the blockchain project as a top industry player. In its latest publication, the team highlighted Pi Network’s fundamental achievements, making optimistic projections about the Pi Coin’s future amid mixed reactions from analysts.
Will PI’s double-bottom hold amid token unlocks?
At press time, the TradingView’s data showed that Pi traded at $0.4411, reflecting a massive 85% decline from its all time high of $2.995, which was achieved shortly after its Open Network rollout earlier this year. Despite the significant price decline, the Pi core team has identified a potentially positive signal, which it believes could trigger a price reversal soon.
Notably, PI established a double-bottom pattern around the $0.4 price level, which the team identifies as a potential demand region. However, analysts are less enthusiastic with …
The post Pi Token Under Pressure as Supply Rises, But Core Team Stays Confident appeared first on Coin Edition.
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Pi Token Under Pressure as Supply Rises, But Core Team Stays Confident
- PI is down over 85% from its all-time high of a few months ago.
- Bear pressure persists for Pi with a potential to continue in the short term.
- The Pi core team foresees a bullish trend in the long term.
In the face of ongoing market uncertainty and a steep decline in its token value, the Pi core team has reiterated its confidence in the blockchain project as a top industry player. In its latest publication, the team highlighted Pi Network’s fundamental achievements, making optimistic projections about the Pi Coin’s future amid mixed reactions from analysts.
Will PI’s double-bottom hold amid token unlocks?
At press time, the TradingView’s data showed that Pi traded at $0.4411, reflecting a massive 85% decline from its all time high of $2.995, which was achieved shortly after its Open Network rollout earlier this year. Despite the significant price decline, the Pi core team has identified a potentially positive signal, which it believes could trigger a price reversal soon.
Notably, PI established a double-bottom pattern around the $0.4 price level, which the team identifies as a potential demand region. However, analysts are less enthusiastic with …
The post Pi Token Under Pressure as Supply Rises, But Core Team Stays Confident appeared first on Coin Edition.
Read More
Upbit Sees XRP Trading Surge in Korean Market