$PI Look, everyone, given the current situation, could you analyze whether the following scenario might occur? On December 1, 190 million tokens will be unlocked, which will bring a large influx of new supply. Currently, Pi’s trading liquidity is thin, meaning even a small amount of selling could trigger significant price volatility. The current crypto market fear and greed index hovers at 20 (extreme fear). If early investors collectively sell to take profits and buy orders can't absorb the selling pressure, the price could first break below $0.2230, then further breach the $0.20 support level, and in extreme cases, even drop to $0.1919 or as low as $0.18. On the other hand, daily chart momentum indicators show signs of potential trend weakness, and the moving average convergence/divergence indicator previously flashed a bearish signal, which could further jeopardize the price holding its support level.

PI-0.52%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)