Pi Network Token Plummets to New Three-Month Low Amid Update Hype
- Token Price Decline: The Pi Network token has plummeted from $0.30 two months ago to $0.155, marking a new three-month low, with market capitalization dropping below $1.6 billion, indicating a significant decline in investor confidence.
- Weak Market Reaction: Despite community expectations surrounding the upcoming protocol update, the token's performance ahead of the update has been disappointing, further declining by 6% during a market crash, reflecting concerns about the project.
- Unclear Update Progress: The Pi Network team set May 15 as the deadline for the v23 protocol upgrade, but no official confirmation has been received, leading to mixed comments from users about the update's success, which has affected community confidence.
- Uncertain Future Outlook: Although v23 is viewed as a potential game-changer for the Pi Network ecosystem, the lack of clear progress and communication has weakened investor confidence, potentially impacting the project's long-term development.
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Technical Analysis for RECALL
Technical Sentiment Analysis for Recall (RECALL). As of , Recall (RECALL) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 6 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for RECALL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, RECALL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Recall (RECALL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0345 | 0.0426 | 0.0495 | 0.0576 | 0.0645 | 0.0726 | 0.0795 |
| Fibonacci | 0.0426 | 0.0483 | 0.0519 | 0.0576 | 0.0633 | 0.0669 | 0.0726 |
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