PI don drop under $0.19 despite Pi Network upgrades; withdrawals from exchanges don reduce wetin dey for sale
PI (Pi Network) don fall after small comeback: di token dey trade around $0.1839 after e drop about 1.6% in 24 hours, comot earlier gains even though Pi Network announce ecosystem updates. Di team introduce creator event, Test‑Pi payments for app integration, and ad‑supported app option wey let new or non‑migrated users build by watching ads instead of paying fees. On‑chain flows from PiScan show big withdrawals from centralized exchanges — about 1.17 million PI removed over 48 hours in the later update (earlier data mention ~4.24 million PI over 24 hours) — this one dey signal rising retail accumulation and reduced immediate sell float. Technicals still cautious: PI no fit reclaim $0.1919 level (Oct.11 low wey turn resistance). Short‑term indicators on 4‑hour chart show RSI near 33–40 (coming out of oversold but no be bullish) and MACD below im signal line, so momentum still lean towards sellers. Key levels: near‑term resistance $0.1919 (daily close above this go signal bullish shift) and upside target $0.2177 (Dec.19 high); downside supports to watch na $0.1835, $0.1632 and prior lows $0.1533–$0.1502 for possible retests. Trading takeaways: short‑term bias remain bearish until PI post daily close above $0.1919; monitor exchange reserves (withdrawals reduce available float), RSI/MACD crossovers for momentum shifts, and daily candle closes around $0.1919 to confirm if recovery go continue or reverse. For risk‑managed longs, consider support around $0.153–$0.150 with strict stops.
Bearish
Di tori tin gather show say PI get short‑term bearish outlook. Even though dem announce product and ecosystem upgrades (creator event, Test‑Pi payments, ad‑supported apps) — wey good for fundamentals — price action and momentum indicators still weak: PI no fit reclaim the key resistance at $0.1919 and MACD dey under im signal line while RSI just dey recover small from oversold levels. On‑chain exchange data wey show plenty withdrawals dey reduce available sell float, wey fit give support and limit downside; but withdrawals alone no go immediately reverse momentum. Traders suppose treat am as bearish till dem see convincing daily close above $0.1919. For short term, this one increase chance say price go retest prior lows around $0.153–$0.150 and continue to stay range‑bound or move down. For medium to long term, product upgrades and growing retail accumulation fit turn into bullish catalysts if dem match with improving on‑chain metrics and technical momentum shift (RSI pass 50 and MACD cross to positive). For now, expect limited upside and higher risk; manage positions with tight stops and watch exchange reserves and daily closes for confirmed trend change.