Network Flashes Bullish "Adam and Eve" Pattern, But Community Tensions Rise
Is a rally incoming for Pi Network? The PI token is showing signs of a bullish recovery, extending its gains with an "Adam and Eve" pattern visible on the 4-hour chart. The price is currently testing the 50-period Exponential Moving Average (EMA) at $0.3699.
This newfound optimism follows a recent investment from Pi Network into OpenMind, a US-based AI robotics firm that also secured $20 million from Pantera Capital. This marks another significant investment following the project's $100 million pledge on Pi2Day.
However, it's not all positive. The community is feeling "on edge" after a circular from the project requested volunteers to combat misinformation without offering any rewards. This has sparked a debate among Pioneers, with many arguing that handling public relations and disinformation should be the project's responsibility.
The project's social dominance has risen to 0.23%, but this comes amidst a negative weighted sentiment, reflecting the mixed emotions within the community.
With bullish technical indicators and strategic investments on one side, and community concerns on the other, the path forward for Pi Network remains a hot topic. A break above $0.3700 could fuel a rally, while a rejection could see the price drop back to $0.3334.