Can Pi Coin Value See Rebound Despite $0.4 Crash Prediction?
The post Can Pi Coin Value See Rebound Despite $0.4 Crash Prediction? appeared on BitcoinEthereumNews.com. Pi coin value showed a lot of promise earlier this month, as evident optimism among holders. That optimism manifested in the form of an impressive 188% rally in the second week of May, but the hype was shot lived and the bulls were shot down. To put Pi coin value and performance into perspective, the rally kicked off while the cryptocurrency was discounted by over 80% from its ATH. This massive discount partly explained its appeal. Pi Network price peaked at $0.90 at its peak in May, but it has since retraced to its $0.71 press time price tag. A 57% dip in about 2 weeks. But can the cryptocurrency pull off another rally, considering its recent discount? Pi coin price action/ source: TradingView Its RSI recently extended its decline below the 50% level, signaling further weakness in favor of the bears. A reflection of the growing bearish sentiment around the cryptocurrency. Moreover, bearish expectations continue to pile up as confidence continues to deteriorate. But just how low can Pi coin go? Analyst Predicts Pi Coin Value To Dip Further One X-based analyst under the pseudonym Dr. Altcoin recently predicted that Pi coin value will likely continue to decline until August. The analyst even predicted that the price would likely drop as low as $0.40. A dip to the $0.40 means the Pi coin price will retest support at the same floor price where it bottomed out in April. The analyst also highlighted a major source of concern that could be holding back investors. Pi Network Core Team Faces Backlash Dr. Altcoin accused the core team behind the Pi network of failing to ensure transparency. He believed that this was one of the main reasons why the crypto has been struggling to attract investors. The coin’s performance in May underscored…
The post Can Pi Coin Value See Rebound Despite $0.4 Crash Prediction? appeared on BitcoinEthereumNews.com.
Pi coin value showed a lot of promise earlier this month, as evident optimism among holders. That optimism manifested in the form of an impressive 188% rally in the second week of May, but the hype was shot lived and the bulls were shot down. To put Pi coin value and performance into perspective, the rally kicked off while the cryptocurrency was discounted by over 80% from its ATH. This massive discount partly explained its appeal. Pi Network price peaked at $0.90 at its peak in May, but it has since retraced to its $0.71 press time price tag. A 57% dip in about 2 weeks. But can the cryptocurrency pull off another rally, considering its recent discount? Pi coin price action/ source: TradingView Its RSI recently extended its decline below the 50% level, signaling further weakness in favor of the bears. A reflection of the growing bearish sentiment around the cryptocurrency. Moreover, bearish expectations continue to pile up as confidence continues to deteriorate. But just how low can Pi coin go? Analyst Predicts Pi Coin Value To Dip Further One X-based analyst under the pseudonym Dr. Altcoin recently predicted that Pi coin value will likely continue to decline until August. The analyst even predicted that the price would likely drop as low as $0.40. A dip to the $0.40 means the Pi coin price will retest support at the same floor price where it bottomed out in April. The analyst also highlighted a major source of concern that could be holding back investors. Pi Network Core Team Faces Backlash Dr. Altcoin accused the core team behind the Pi network of failing to ensure transparency. He believed that this was one of the main reasons why the crypto has been struggling to attract investors. The coin’s performance in May underscored…
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