Pi advocates for the Pi domain, but their site still uses dotcom.
What a joke.
koinmilyoner
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Bullish
Should it bounce off this key support, PI might rally to $0.90.
Nakamoto's proposal calls for building a community-drive liquidity pool (CDLP) composed of personal donations made by PI holders.
This organization would aim to reduce volatility, promote scarcity, and increase the liquidity of the token.
The suggestion made by this user comes at a time when PI has plummeted to lowest points. The token dropped on Saturday to $0.40, its all-time low.
Top officials from the blockchain sector claiming Pi is a well-considered fraud have damaged their credibility. Furthermore, big centralized exchanges like Binance and Coinbase have declined to make Pi accessible on their trading platforms in line with their listing requirements.
According to the hourly chart, a selling frenzy has quickly replaced the last rebound in PI's price as unsatisfied investors could have used the opportunity to sell their holdings at a much better price of about $0.80.
After momentarily breaking the 61.8% Fibonacci support, the price has recovered back according to a Fibonacci retracing research. Given a big green candle's confirmation, this is a positive sign.
Momentum indicators still show a declining trend, nevertheless, and have not yet delivered a buy signal. The Relative Strength Index (RSI) is thus retesting the signal line from below.
The RSI is trying to soar over this moving average third or fourth time. This purchase indication has not produced a good result in all previous cases.
PI bouncing off this Fibonacci level can cause the token to have another higher high and drive it to the $0.90 level.
If PI loses its support, however, it may revisit its all-time lows at $0.40, representing about 29% of a downside risk.
#pi #PiCoreTeam
Nakamoto's proposal calls for building a community-drive liquidity pool (CDLP) composed of personal donations made by PI holders.
This organization would aim to reduce volatility, promote scarcity, and increase the liquidity of the token.
The suggestion made by this user comes at a time when PI has plummeted to lowest points. The token dropped on Saturday to $0.40, its all-time low.
Top officials from the blockchain sector claiming Pi is a well-considered fraud have damaged their credibility. Furthermore, big centralized exchanges like Binance and Coinbase have declined to make Pi accessible on their trading platforms in line with their listing requirements.
According to the hourly chart, a selling frenzy has quickly replaced the last rebound in PI's price as unsatisfied investors could have used the opportunity to sell their holdings at a much better price of about $0.80.
After momentarily breaking the 61.8% Fibonacci support, the price has recovered back according to a Fibonacci retracing research. Given a big green candle's confirmation, this is a positive sign.
Momentum indicators still show a declining trend, nevertheless, and have not yet delivered a buy signal. The Relative Strength Index (RSI) is thus retesting the signal line from below.
The RSI is trying to soar over this moving average third or fourth time. This purchase indication has not produced a good result in all previous cases.
PI bouncing off this Fibonacci level can cause the token to have another higher high and drive it to the $0.90 level.
If PI loses its support, however, it may revisit its all-time lows at $0.40, representing about 29% of a downside risk.
#pi #PiCoreTeam
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