AN MISSION FOCUSED Team's Analysis of Pi Network's Latest Developments
🔹 Source: Investing-in-Trading
🔎 Event Overview:
Pi Network is heading towards a critical stage as the January 31st KYC deadline approaches, a pivotal step to ensure the network’s credibility. Meanwhile, speculation is mounting that the price could hit $200 as the official launch of the mainnet approaches.
📊 Pi Coin Technical Analysis
🔹 Support levels:
Currently, the $30 level is being tested as a strong support, which could form a starting point for an upward move if the price maintains stability above it.
🔹 Double Bottom Pattern:
A double bottom pattern is forming, which is a positive sign for a possible breakout of the resistance at $100, which may open the way towards $200 in the medium term.
🔹 Trading volume:
The recent decline in trading volume could be an indication of accumulation by investors, in preparation for major price movements following the mainnet launch.
📌 Factors affecting the future of the currency
✔️ Identity Verification (KYC):
This step is necessary to ensure that the network consists of only real users, which increases the credibility of the project and its attractiveness to financial institutions and investors.
✔️ Mainnet Launch:
The open blockchain (Mainnet) is expected to be launched during the first quarter of this year, a step that could be the actual turning point in the adoption and spread of the currency.
✔️ Number of supported applications:
The project aims to have 100 active applications before launch, but the current number is still less than 80, which could impact network readiness at launch.
✔️ Organizational challenges:
Compliance with financial regulations may be a barrier in some markets, a factor that could affect the speed of global adoption of the currency.
📈 AN MISSION FOCUSED team predictions:
🔹 If the price manages to break the resistance at $100, the next target will be $200, especially with the increased demand when the network launches.
🔹 Investors should follow the developments of the Pi Network project, taking risk management into consideration.
🔹 There are still challenges, but if the network can overcome them, there could be a promising future for the currency.
📌 Note: This analysis is not considered investment advice, and each investor should conduct their own research before making any financial decisions.
📍 Prepared by AN MISSION FOCUSED Team
