📉 Current Price and Market Dynamics
• PI Price: fluctuating in the range of $0.5776–$0.6078 on the OKX exchange, with a slight increase of 0.9% over the past day.
• Trend: over the past month, the token has lost about 15% of its value, which is attributed to selling pressure and limited liquidity.
📊 Technical Indicators
• Relative Strength Index (RSI): currently at 39.78, which is close to the oversold zone, indicating a possible continuation of the downtrend.
• On-Balance Volume (OBV): decreasing, indicating capital outflow from PI.
• Chaikin Money Flow (CMF): negative, which confirms the dominance of selling pressure.
🔄 Recovery Potential
Analysts indicate a possible rise of PI to $1 if a breakthrough occurs at the resistance level of $0.8727. However, improvements in liquidity and expansion of the token's real use are necessary.
🗓️ Important Events
• Consensus 2025 Summit: will take place from May 14 to 16, where the founder of Pi Network, Nicolas Kokalits, will speak. This event could act as a catalyst for PI's growth, especially if significant updates are announced.
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