The Pi Network recently experienced a price increase of 12%, briefly reaching $0.65 during intraday trading, but then fell to $0.61. Despite this rise, the altcoin continues to struggle with consolidation as weak investor sentiments continue to significantly impact its price.
A ray of hope emerges with the announcement of the ecosystem scheduled for May 14, which could bring positive news and potentially trigger more significant growth.
Pi Network is losing investor interest.
Investor sentiment towards Pi Network remains weak over the past month, with minimal interest from the broader market. This lack of enthusiasm hinders the altcoin's ability to break out of consolidation and achieve sustainable price growth.
This investor apathy has created a significant challenge for Pi Network, as it lacks the support necessary to increase its price. Although the market shows some bullish trends, especially after the U.S. Federal Reserve's decision to keep interest rates unchanged, Pi Network finds it difficult to turn this into sustainable momentum. The overall macroeconomic momentum of Pi Network shows mixed signals. On one hand, the MACD (Moving Average Convergence Divergence) barely indicates bullish sentiment, with a histogram showing small green bars. While this suggests minor positive momentum, it is insufficient to trigger growth.
This indicates that broader bullish market signals are preventing a bearish crossover, helping to keep the price of Pi Network afloat despite investor fluctuations. However, the lack of strong bullish signals from the MACD means that Pi Network is still struggling for a significant increase. The price of PI cannot find stability.
The price of Pi Network rose by 12% in the last 24 hours, briefly reaching $0.65 before falling to $0.61. This increase was driven by broader bullish market sentiment following the U.S. Federal Reserve's decision to keep interest rates unchanged. However, the altcoin has struggled to maintain its gains, indicating a lack of strong support from investors for a price increase.
Pi Network continues to consolidate, stuck between $0.61 and $0.57. This prolonged range movement indicates that the altcoin lacks sufficient momentum to exit the consolidation phase. The price is likely to continue moving within this range unless support is strengthened from both the market and investors, which remains uncertain at this time. On the other hand, Pi Network could simplify the bearish outlook if it secures $0.61 as support and begins to rise towards $0.71. Successfully overcoming $0.71 could instill confidence in investors, potentially triggering more significant growth. However, without a clear shift in sentiment, the price may continue to struggle.#BinanceSquare #Write2Earn #TradeStories #PiNetworkMainnet #Binance $ETH