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📅 July 3, 7:00 – July 9,
The Pi coin bulls want to hold the support level of $0.47 as the bears reject the breakout.
Last Friday, Pi Network announced two important features, but this information seems insufficient to stimulate the market.
Although the price movement had a positive trend before the event, it has since shifted to a downward trend. So what support and resistance levels should be noted? Let's analyze the charts to find out.
The price of Pi has surpassed the 20-day exponential moving average (EMA) at $0.56 on Wednesday but was unable to break through the resistance at the 50-day simple moving average (SMA) at $0.66.
If the price recovers from the level of $0.47 and rises above the 20-day EMA, this will signal a buying opportunity at lower levels. The PI/USDT pair is likely to rise to the 50-day SMA, which is an important resistance level to watch.
Conversely, if the price surpasses the 20-day EMA, this will indicate that the bulls are trying to make a comeback. Although there is resistance at the 50-day SMA level, the possibility of breaking through still exists. The pair may then rise to the level of $0.60.
Mr. Teacher