Bulls Dominate Pi Network Coin Market

Pi Network coin prices are trading at $33.39.
Bulls have dominated the Pi Network market in the last 24-hours.
Bulls in Pi Network set a support at $10.85 and a resistance at $35.43.

A price increase of 154.07% has been recorded for Pi Network Coin on the market today, indicating that the market is currently moving in an upward direction. The price of PI coin, which is currently trading at $33.39, has been trending upward over the past twenty-four hours, as shown by the fact that this sentiment is bullish. The price of $10.85 acts as support, while $35.43 acts as resistance in this market.

PI/USD 24-hour price chart (source: CoinMarketCap)

The widening of the Bollinger Band (BB) indicates that the market is highly volatile, which indicates that the bulls have dominated the market, and as a result, this might continue in the PI network price in the coming hours. At the moment, the levels of the upper band and the lower band are 0.0035270 and 0.0027041, respectively. Furthermore, the fact that the current trading price is trading above the upper band is further evidence that the bulls have successfully taken control of the PI network market.

The movement of the MACD line above the signal line indicates that bullish persistence is still present in the market and that the bull run may continue to take place in the market in the coming hours. The formation of the trajectory histogram on the upper territory also suggests that the market’s bullish long run may continue.

The Average Directional Index (ADX) is also moving upward, and it is getting closer to the “25” region, which is the zone that denotes an overbought market, which suggests that this bullish sentiment may persist for the foreseeable future in terms of PI Network prices.

PI/USD 4-hour price chart (source: TradinView)

The Williams Percent Range indicator (William %R) currently has a reading of -48.94 and is pointing upward, which indicates that PI prices are moving towards the oversold region and that the PI Network market may continue to see these bullish movements in the short term. This further supports the bullish sentiment that has been prevailing in PI Network prices.

A bearish sign is occurring as a result of the formation of dots by the Parabolic SAR on the southern side of the candlestick pattern; consequently, investors and traders should exercise extreme caution before entering the PI Network market as a bearish run may be encountered in the market in the coming hours.

PI/USD 2-hour price chart (source: TradingView)

In conclusion, a bullish run could continue in the PI Network market in the coming hours as indicated by the technical indicators.

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Munene Kelvin

Kelvin enjoys writing about cryptocurrency and blockchain. He started blogging in 2019 and switched to cryptocurrency in 2020. Kelvin is interested in technology, football, chess, and Defi. He wants decentralization to benefit everyone on the planet.