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- 1 PI is displaying signs of liquidity accumulation and it could shoot a high gigantic move anytime soon.
- 2 The PI price is below all major EMAs and MACD and RSI both are moving side by side, which is highlighting confusion regarding the coin’s direction clarity.
Pi Network is a social cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining battery or harming the environment.
It also fosters the world’s most accessible and universal app platform where strong and creative developers can offer users real-life practicality and products in exchange for Pi coins.
What Makes PI Network Unique?
Pi’s blockchain uses a variation of the Stellar Consensus Protocol (SCP) to validate transactions.
Compared to traditional blockchain mining methods, Pi’s protocol provides decentralized control, low latency, flexible trust, and asymptotic security at a fraction of the environmental cost.
Fault tolerance is achieved through a decentralized web of nodes reaching consensus via a trusted network of mobile users who earn Pi by validating their presence and vouching for others.
Environmental impact is reduced since this method does not need energy-intensive hardware to mine.
Pi Network’s design facilitates Pi coins as a medium of exchange without token concentration. Key tenets include fair distribution, scarcity, and meritocracy.
Pi Network’s developer platform offers many qualities for developers. As the world’s largest identity-authenticated user base, Pi Network has pre-built infrastructures such as a crypto wallet, user authentication, notifications, deep linking, app interoperability and more.
Its App Engine uses an operating system similar to Apple’s iOS, with a secure blockchain component.
Community developers can use Pi’s SDK and user-authentication measures to create apps that integrate with the Pi ecosystem. Also, it allows Pioneers to move between different interoperable apps without logging in separately or providing other contact information.
PI Network Chart On 1-D Time Frame
The PI crypto has revealed a sign of an upcoming recovery as the price sustained on the crucial level of around $28 on the chart and is been consolidating from the last six months.
This displays that the PI is displaying signs of liquidity accumulation and it could shoot a high gigantic move anytime soon.
At the time of publishing, the PI is trading at $31.52 with an intraday surge of 4.75%.
The PI price is below all major EMAs and the MACD and RSI are moving side by side, implying a lack of clarity regarding the direction of the coin.
Therefore, at most, if the price jumps above and buyers increase, then the price could go up to $50. On the flip side, if the demand zone breaks, then the price could fall to $20 as well.
Summary
The PI network price action is sideways and this displays that the PI is displaying signs of liquidity accumulation and it could shoot a high gigantic move anytime soon.
Technical Levels
Support Levels: $20
Resistance Levels: $50
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
