Pi Network’s PI Crashes Below Key Support as Pioneers Await Major Update Today

Pi Network’s native token experienced a substantial resurgence over the past several days, but its run has been halted, and it has now dropped below the key support at $0.09.

Meanwhile, the project’s vast community expects updates on the next protocol upgrade, which is supposed to be the second-to-last one.

PI Tanks Again

After a painful July in which it marked consecutive all-time lows, including the last one at $0.07 in the middle of the month, PI entered the new month with more hopes for a rebound. Although it was stopped at $0.088 at first and slipped toward $0.08, that support managed to hold, and the asset went on an impressive run.

By August 6, it had climbed above $0.09 and even surged past $0.096. As the community was hopeful for another leg up toward the major $0.10 level, the token was rejected and dipped below $0.09 once again last Friday. Nevertheless, the bulls reemerged during the weekend and helped reclaim that line. PI peaked at $0.094 on Sunday morning.

As it typically happens when it stages a notable rally, though, the bears are usually close by, ready to halt its move north. The same occurrence took place in the past several hours, as PI was stopped at $0.092 and pushed below the key $0.09 support. It dropped to $0.084 minutes ago, where the buyers stepped up and helped it recover to the current $0.086.

… Continue reading the full article at the original source below.