Recently, the price prediction of Pi coin has drawn market attention. According to relevant analysis, the “Wyckoff accumulation Model” with a history of 90 years may indicate that Pi coin is about to make a huge breakthrough.
Currently, the trading price of Pi coin is approximately $0.60, which is lower than its historical high of $3. Since the beginning of April, the price of Pi Coin has been in a consolidation phase, and the trading volume has declined. However, based on Wyckoff’s theory, this seemingly boring merge stage might actually be a sign that Pi Coins have entered the accumulation stage.
The Wyckoff theory has existed since the 1930s. This theory states that the asset price cycle consists of four stages: accumulation, inflation, distribution and degradation. Currently, the Pi network is in the accumulation stage, which is usually a prelude to price increases.
From the perspective of technical indicators, the eight-hour chart analysis shows that the price trend of Pi coin since April has been highly consistent with the Wyckoff accumulation pattern. Furthermore, some popular trend indicators have also given positive signals. For instance, the Bollinger Bands indicator indicates that the price of Pi coin may experience strong fluctuations in the short term, and there are signs suggesting a bullish breakout. The awe-inspiring oscillator has also reached a higher peak and is about to cross the zero line, which further supports the expectation of a price increase.
In addition to technical analysis, the price prediction of Pi coin also takes into account other factors. On the one hand, approximately 231 million Pi tokens are being unlocked this month, and another 222 million will be unlocked in June. The increase in token supply may have a certain impact on the price. On the other hand, platforms such as HTX related to Justin Sun have been prompting on the potential listing list, and exchange listings usually trigger a huge increase in cryptocurrency prices, which also provides a certain catalyst for the increase in the price of Pi coins.
If the price of Pi coin rises as expected, the initial target might be the psychological level of $1, and its resistance level is around $1.80. In the long term, Pi coin is expected to reach $1.93 within a month and even exceed $2 in about three months. However, it should be noted that the cryptocurrency market is highly uncertain and volatile. The price prediction of Pi coins is only based on the current market conditions and technical analysis. Investors should make decisions with caution.
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