The PI Crypto price price has crashed for two consecutive months and is hovering near its all -time following of $ 0.3983.
Summary
- The PI network price has been submerged in the last two straight months.
- The network will unlock millions of tokens in August.
- Technical suggestions that the token will jump in the month.
The PI Network (PI) was trading at $ 0.4185 on Wednesday, 30 July, which was more than 86% from its all -time high.
PI network to unlock 160 million tokens
The PI Crypto value has been in an independent decline in the past. It also drowned because millions of tokens came online through their daily unlock.
Piskon data shows that the unlock will continue in August. About 160 million tokens, which cost more than $ 67 million, will come online. The PI will also unlock $ 1.27 million tokens of $ 2.5 billion in the next twelve months.
Tokens unlock is usually of recession as they integrate support by putting pressure on the price.
The PI network value lightened the PI network value for some major announcements in July. For examples, Devilopers announced the PI AI Studio, which enables anyone to manufacture AI agents with coding coding. Users have developed these devices on the platform.
The team also started staging, which enables users to allocate and promote tokens in their favorite applications. Millions of PI tokens have been allotted towards this stacking.
Further, in August, the potential catalyst for the PI Crypto value will be a tier -1 exchange listing. This is notable because any mainstream exchange has not listed it five months after the main launch.
Pie crypto price price technical analysis
Technical suggestions that the price of pie network may increase in August. It has formed a huge dobe-bottom pattern at $ 0.3983 and a neckline on $ 1.6640, its highest point in May.
The MACD indicator has formed a rapid deviation pattern and crosses above zero. A bullis diversion is one of the most common rapid pattern in technical analysis.
The PI network has formed a falling wedge pattern, a popular inverted signal. Therefore, the token would prefer a strange bullish breakout, to look at $ 1 with the next point. One step that will point to the level of more profit for resistance at level $ 1.6640.
