The native token pi Network has remained locked in a lateral trend after falling to a new historical minimum of $ 0.1842 on September 22.
Since then, the cryptocurrency has oscillated within a horizontal channel, finding support at $ 0.2565 while facing resistance at $ 0.2917. With bearish clouds that hang on the widest market, PI runs the risk of visiting its low price.
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The weak impulse keeps Pi under pressure
The average average range (ATR) of PI reflects the weakening impulse among the participants of the spot market. One day’s PI/USD table readings show that this indicator has constantly lay down since the lateral trend began on September 23 to reach 0.0234 on the date of publication.
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The ATR measures the degree of price movement during a given period. When they tend down in this way, it generally indicates that price fluctuations are narrowing and the general impulse is weakening.
This decrease highlights the participation of minor merchants in spot markets and the lack of new capital tickets in the Token, hinting at the probability of a breakdown of the support at $ 0.2565 in the short term.
In addition, PI is loudly quoted below its exponential mobile average of 20 days (EMA), confirming this bearish perspective. In the press hour, this key mobile average forms dynamic resistance above the price of PI at $ 0.3185.
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The 20 -day EMA measures the average price of an asset in the last 20 days of negotiation, giving more weight to recent prices. When the price falls below, sellers have control and impulse of the market is biased down.
This indicates that PI is struggling to attract an impulse up and could extend its lateral movement, or even face fresh downward pressure if the feeling does not improve.
The downward risks continue to build
With the weakening of the commercial impulse, the PI price action seems more and more vulnerable to another breakdown. It could push below the support floor of $ 0.2565 and visit its minimum of all time.
On the contrary, if the feeling improves, PI could try to violate the resistance to $ 0.2919. A rupture above this level could mark the beginning of an attempt to recover, pushing the price of Pi above its 20 days em
