- The sale pressure behind PI was strong, despite the price rebound in April.
- A bullish divergence on the 4 -hour MFI after a new test of the nearby support levels could be interesting for buyers.
The PI network (PI) has been in a regular decrease in recent weeks. Although it always retains its lower prospects, the momentum has dropped in April.
Could this be a stay, or did the Bulls accumulate towards an escape from the resistance of key general costs?
The chances of an upward trend are thin, to date
Source: PI / USDT on tradingView
On the graph of 1 day, the relevant lower and lower bass was marked in orange. These levels at $ 0.84 and $ 0.52 marked the places where the next rupture of the market structure would occur.
A step beyond one or the other level would point out where the PI price then goes.
The technical indicators on the time of a day seemed to have stabilized. The MFI, which had been deeply in the territory of occurrence, climbed towards surfinition.
This change in the past two months has reported a bullish capital flow and momentum.
However, the A / D indicator did not stop its progress downwards, although it slowed down in April.
It was a sign that the volume of purchase was still low and that the results of the MFI were not entirely representative of the PI situation.
Source: PI / USDT on tradingView
The zoom on the 4 -hour period, a set of Fibonacci trace levels was drawn according to the net price rebound on Saturday, April 5.
At the time of the press, the price of the Network Pi token was heading for the level of trace of 50% to $ 0.595.
The MFI was less than 50 on time H4. It was at 23, barely above the occurrence region, showing a bearish momentum and a sale pressure. The A / D indicator has also taken a few steps down in the last two days.
This came next to the rupture of the lower market structure, when Pi Bears led the price below $ 0.71 (green). In the coming days, levels of $ 0.595 and $ 0.55 were likely to act as support.
Notice of non-responsibility: The information presented does not constitute financial investments, exchanges or other types of advice and is only the opinion of the writer
