The PI network price shows signs of soil, indicating a potential rebound when whale accumulation steam wins and the Altcoin season starts.
Summary
- Pi -Muntprijs could jump if buying whales is gaining strength.
- The mint has a pattern with double bottom formed on the 24-hour graph.
- Pi -Token has also formed a bullish divergence pattern.
Pi -Munt to take advantage of buying whales and Altcoin season
One whale believes that the PI network price is a bargain after it has fallen from almost 90% from all time. Data on chains show that the investor has actively purchased the token in recent weeks.
The investor spends thousands of dollars every day and stimulates his interest, making him the biggest holder. According to Piscanthe investor bought 441,549 coins worth $ 156,043 on Thursday, a day after he had acquired 1,573 million coins.
The accumulation has brought the total number of possession at 373.78 million coins, currently rated at more than $ 132 million. The most important thing is that his interests are worth more than $ 1.12 billion when the currency progresses and returns to his all time.
The persistent whale accumulation is very contradictory, given that Pi has fallen since the launch of the mainnet. It can be a sign that the investor expects the coin to return, possibly after an exchange list or a token fire announcement.
The other potential catalyst for the PI Network (PI) price is the new Altcoin season. Data is displayed That the Altcoin season index jumped to 78, a movement that can lift the most coins.
Furthermore, the upcoming interest rates of the Federal Reserve interest rates can lead to a risk-on sentiment that drives most altcoins higher.
PI Network price Technical Analysis
The 12-hour map points to a possible PI network price descended. It has formed a double bottom pattern at $ 0.3321, the lowest level on 1 and 26 August. The neckline is at $ 0.4652, the highest level on 10 August. A double bottom pattern often leads to a strong bullish comeback.
The relative strength index has formed a bullish divergence pattern. This pattern happens when an asset gradually rises as the price consolidates or falls. It has now moved above the neutral point at 50.
That is why the PI networking sake will probably return and possibly reach a key resistance point at the neckline at $ 0.4652, about 32% above the current level.
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