The cryptocurrency market has experienced a significant fall today due to rising geopolitical tensions between Iran and Israel. Subsequently, top altcoins including the cryptocurrency PI have lost considerable value in their respective investment portfolios.
In the past 24 hours, the price of PI has fallen by about 10% with a volume increase of 254% to 241.31 million dollars. At this level, its valuation has decreased to 4.2 billion dollars with a market dominance of 0.1288%.
This leads to a state of Fear, Uncertainty, Doubt (FUD) in the cryptocurrency space. Moreover, investors are actively monitoring the price action of cryptocurrencies as sentiment indicates increasing uncertainty in the coming week.
The price of PI coin has fallen by 23% in a few hours.
The Volume indicator has surged today after witnessing a consolidation action for a short period. This highlights a sudden increase in buying and selling pressure for altcoin in the market. In this case, the histogram chart is colored red, indicating increased selling pressure.
The Relative Strength Index (RSI) has broken the oversold range on the 4H timeframe and recorded a low of 15.8. However, since then, this index has shown a positive reversal and is currently valued at 26.82. This trend indicates increased volatility for this index in the market.
In addition, the Cross EMA 50/200 days acts as the main resistance trend around the levels of $0.62 and $0.68 respectively. By assessing the current market sentiment, the PI token shows a strong bearish sentiment this week.
Will PI Coin Recover in the Future?
If the market supports the buyers, this could lead to a re-test of the resistance levels at $0.60 and $0.74 respectively. Additionally, if the bullish sentiment is stronger, it may aim for a higher price target of $0.89 in the near future.
However, if the price of PI experiences increased liquidation, this could pull its value down towards the important support trend line of $0.47 this month.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
PI Network Traders Sell PI Coin Amid FUD in the Cryptocurrency Market
The cryptocurrency market has experienced a significant fall today due to rising geopolitical tensions between Iran and Israel. Subsequently, top altcoins including the cryptocurrency PI have lost considerable value in their respective investment portfolios. In the past 24 hours, the price of PI has fallen by about 10% with a volume increase of 254% to 241.31 million dollars. At this level, its valuation has decreased to 4.2 billion dollars with a market dominance of 0.1288%. This leads to a state of Fear, Uncertainty, Doubt (FUD) in the cryptocurrency space. Moreover, investors are actively monitoring the price action of cryptocurrencies as sentiment indicates increasing uncertainty in the coming week. The price of PI coin has fallen by 23% in a few hours. The Volume indicator has surged today after witnessing a consolidation action for a short period. This highlights a sudden increase in buying and selling pressure for altcoin in the market. In this case, the histogram chart is colored red, indicating increased selling pressure.
The Relative Strength Index (RSI) has broken the oversold range on the 4H timeframe and recorded a low of 15.8. However, since then, this index has shown a positive reversal and is currently valued at 26.82. This trend indicates increased volatility for this index in the market. In addition, the Cross EMA 50/200 days acts as the main resistance trend around the levels of $0.62 and $0.68 respectively. By assessing the current market sentiment, the PI token shows a strong bearish sentiment this week. Will PI Coin Recover in the Future? If the market supports the buyers, this could lead to a re-test of the resistance levels at $0.60 and $0.74 respectively. Additionally, if the bullish sentiment is stronger, it may aim for a higher price target of $0.89 in the near future. However, if the price of PI experiences increased liquidation, this could pull its value down towards the important support trend line of $0.47 this month.