Pintu, Indonesia—The price of 1 Pi Network crypto market. Despite the selling pressure

One of them is the falling wedge pattern, which is known as a strong signal of price reversal to an uptrend.

The price of 1 Pi Network (PI) crypto is currently at 1,449,000 IDR, a slight increase of 1.05% in the past 24 hours. However, despite the selling pressure, analysts are starting to see technical patterns that could signal a turning point for PI.

One such pattern is the falling wedge, which is known as a strong indicator of a price reversal to an uptrend. With a potential rally of up to 200%, crypto investors are putting new hope in the revival of this cryptocurrency’s value.

The chart shows the price movement of Pi Coin (PI) against the USD over the last 24 hours. Starting at a price of around $0.9193, Pi Coin experienced a sharp increase in early trading to touch the highest peak of the day at around.

However, after reaching the highest point, the price corrected and showed significant volatility, with several up-and-down daily fluctuations. Around 9 p.m., a fairly sharp drop brought the price to a daily low of around.

After that, the price recovered slightly and continued to move in a flat trend with slight fluctuations towards the morning, finally standing at $0.9289 at the time the data was taken. This indicates a gain of 1.05% in the last 24 hours.

Falling Wedge Pattern Triggers Speculation for PI’s Price to Soar 200%

Crypto analysts have observed a falling wedge pattern on the Pi Network price chart, which is historically a signal of an upward reversal. This pattern occurs when two trend lines converge in a narrowing range, usually ending with a bullish breakout when the price breaks the upper line.

In the case of PI, this breakout has already occurred, giving investors hope that a price revival could begin soon. If this trend continues, a potential spike to 49,053 IDR ($3), or about 200% of the current price, is not out of the question.

Furthermore, other technical indicators such as MACD and PPO also show bullish divergence, an early signal of a potential uptrend, which strengthens the belief that Pi Coin could soon end the downtrend phase.

Many traders are starting to open long positions, speculating that PI has hit a bottom. This buying pressure could be the initial impetus before major momentum comes from other fundamental factors.

The daily trading volume (24h) is $243.83 million with a market capitalization of $6.28 billion, indicating high trading activity. Community sentiment towards Pi Coin is very positive, with 89% of users showing a bullish view of the coin.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties.

Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

reference: pintauruhanging