#MastercardStablecoinCards After dropping below one dollar, here’s what’s next for the PI network price pool!
Cryptocurrency markets are consolidating! After a massive bull run, the price of PI has entered a corrective phase by crashing over 30%. The increase in volatility and volume indicates a significant rise in trading activity, reflecting increased attention. The PI network just dropped a big deal announcement worth $100 million to help PI ecosystem projects grow. This news does not seem to have sat well with many in the Pioneer community, who felt discontented due to the lack of real decentralized applications and work to support the project. This may be why the price of PI collapsed after peaking at $1.50 earlier this week, erasing almost all its recent gains and leaving many wondering what is going on behind the scenes. The recent pump was driven by investors reacting optimistically to the ecosystem update. The price is currently being pressed against major resistance, and if it flips from the range, fresh upward moves may begin. It follows a rejection after several failed attempts to break through pivotal resistance between $1.21 and $1.28. The MACD also shows a decline in buying volume with a significant potential for a bearish crossover. However, levels remain within the positive range, sustaining hopes for a strong recovery. Looking at the Ichimoku cloud, the token is expected to display massive price actions as the conversion and base lines approach each other while the Ichimoku cloud remains bullish. Once the cloud undergoes an upward correction, a shocking divergence can be verified. Currently, the price of PI has entered the testing zone, and thus it may move between $0.06 and $1 for the next couple of days. The recent announcement of $100 million in funds indicates that upcoming announcements will be about innovative projects joining the network. This could bolster bullish sentiment for various projects and the development of the PI ecosystem. Share this crypto vision with your network!
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