Pi Network (PI) Price Predictions for This Week, May 20

PI loses key assist. Where will consumers return?

PI Network (PI) Price Predictions: Analysis

Key assist ranges: $0.15, $0.13

Key resistance ranges: $0.16, $0.20

PI Loses Key Support as Sellers Return

Since late final week, promoting has intensified, which put stress on the $0.16 assist till this degree couldn’t maintain any longer and broke. Because of this, it’s now appearing as a key resistance.

This breakdown might be interpreted as a resumption of the macro downtrend after an extended pause that began in February when the worth started to maneuver sideways. To verify the downtrend, the worth might want to make a decrease low beneath $0.13.

Bears Take Over the Price Action

Since PI misplaced assist at $0.16, bears drove the worth all the way down to $0.15. Here, consumers seem to make a stand, however their conviction seems weak contemplating the low purchase quantity.

If consumers are unable to reverse this value motion quickly, then this cryptocurrency will possible take a look at the all-time low at $0.13. A re-test of that degree can be a bearish sign that would encourage sellers to push the worth even decrease.

Daily RSI Enters Oversold Area

Due to nonstop promoting over the previous 5 days, the each day RSI fell under 30 and entered the oversold space. This might clarify why consumers could also be right here since a bounce is probably going.

Sellers may have a break earlier than they resume their stress, which may give a gap for consumers to push again. However, any bounce could also be short-lived, and a take a look at of the important thing $0.13 assist stays possible.

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