Will Pi Network’s Price Tumble to New ATL Next Week? ChatGPT Makes Worrying PI Predictions
Despite the newest developments and new updates across the mission behind the token, PI has misplaced the momentum that began in October and lasted for many of November. At the time, a lot of the cryptocurrency market was sliding arduous, together with large double-digit worth declines from the most important of the bunch.
However, PI managed to defy the general crash and even surged from round $0.23 to over $0.28 at one level. This stability has pale because the broader market recovered the early This fall losses, and PI is shut to breaking beneath $0.20 as of press time. Consequently, we determined to ask ChatGPT about its view on the matter for the week forward.
New ATL?
The aforementioned PI revival was almost certainly linked to current updates within the Pi Network ecosystem, including new AI integrations and upgrades to the blockchain itself. Now, although, the asset sees itself struggling to stay above $0.20, which, in accordance to ChatGPT’s evaluation, is the primary main assist on its manner to the early October ATL of $0.172 (CoinGecko information).
If it falls, the following and ultimate one is located at $0.18-$0.19. If that one offers in, then the trail towards a brand new low turns into huge open, which is why the AI answer described the present pattern as “short-term bearish” as the general PI momentum is weakening.
It additionally warned that the quantity is declining, which suggests “vendor dominance and weak demand” earlier than it added:
“When belongings method an all-time low with low liquidity and falling quantity, volatility tends to spike sharply.”
The solely constructive right here is the momentum indicators, which present that PI has neared oversold circumstances, however “not but at a transparent reversal zone.”
Most Likely Scenario?
The common AI platform warned that PI’s worst-case state of affairs for the week forward can be a drop to $0.16 if the $0.18 assist falls, which might basically imply a brand new all-time low. The bear case can be supported by the massive variety of tokens to be unlocked within the following month, which is over 180 million (or roughly 6 million per day).
The bull state of affairs, which ChatGPT categorized because the least doubtless, can be a breakout above $0.21 and a surge towards $0.25. However, probably the most anticipated case for OpenAI’s answer is a extra sideways transfer at round $0.18 and $0.21.
“PI is coming into a essential section. The token stays only some share factors above its all-time low, and with no swift resurgence in demand, a retest of $0.172 seems more and more doubtless. Whether bulls can defend this degree will decide if PI stabilizes — or enters a brand new bearish chapter,” concluded ChatGPT.
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