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Pi news update: Bulls aim to hold $0.47 support as bears reject breakout
Key points:
Pi (PI) announced the release of two major features on Friday, but the news has failed to ignite the markets
Pi price prediction
Pi rose above the 20-day exponential moving average ($0.56) on Wednesday, but the bulls could not clear the overhead resistance at the 50-day simple moving average ($0.66).
If the price rebounds off $0.47 and rises above the 20-day EMA, it signals buying at lower levels. The PI/USDT pair may then climb to the 50-day SMA, which is a critical resistance level to watch out for
Related: Bitcoin due to copy S&P 500 to hit new all-time high in July: Forecast
Conversely, a break above the 20-EMA suggests the bulls are attempting a comeback. There is resistance at the 50-SMA, but it may be crossed. The pair could then climb to $0.60.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.