PI ($ 0.36) Network tokens reduced a new time on 1 August and reduced the duration of consolidation, showing light motor in the ethnication.
The careless price action reflects a market in Limbo, traders awaited a decisive motto that the couch set a tone for the next chapter of the PI.
Pie’s price got fed up between fear and hope
The technical indicators seen on the PI/USD One-Day chart confirm this stagnation. For example, the relative Shakti Index (RSI) has been trended by the PI, the trend began sideways, which confirms the relative Boldin of buying and selling pressure in the market.
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Pie RSI. Source: TardingViewThe RSI indicator measures overbott and oversold market conditions of a property. It occurs between 0 and 100. The values above 70 suggest that the asset is over and due to the decline in the value, while the values of less than 30 indicate that the property is oversold and can erase a rabad.
When the price action is flat in this way, it reflects the conflict between buyers and vendors, neither is able to decide the market in the side decisively or less.
In addition, the average True Range (ATR) of the PI has moved downwards from August 2, confirming the market’s indifference. As this writing, this indicator is at 0.03.
Pie ATR. Source: TardingViewThe ATR indicator measures the degree of value movement over a certain period of time. When it is a tendency at the bottom in this way, instability drips. Price changes are becoming small and less frightening.
As with PI, it is making a consolidation stage, where the market waits for a breakout. This marks the perids of uncertainty when traders are not stringed in either direction.
Range-Bound Pie Iz Breakout-but how will it go?
PI buyers appear to step into step and are careful with further decline, as the project continues to unlock the new tokens. In the next 30 days, 166.21 million PI tokens worth $ 59 million in market market prices are to be unlocked according to piscon.
PI price analysis. Source: TardingViewIf the weight of PI’s token unlock continues to weight weight on the market session, it acquires its tone to re -look at all its time of $ 0.32.
However, the reverse one break is like a new demand resurrection. In this scenario, the price of PI can move towards $ 0.44.
The Post Pie Network struggles in New Lo as the market is waiting for its next major innings to appear on Beincrypto for the first time.
