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Pi Network Token Likely to Drop to $0.40 in June Amid Unlocked Supply
Latest crypto news: Unlocking of Pi Network tokens scheduled for June 🚀
Approximately 250 million PI tokens are set to be unlocked in June, which could increase pressure on the altcoin market 💸.
Technical analysis indicates a waning investor interest, suggesting a potential decline to $0.40 or even lower.
The Relative Strength Index (RSI) is on a downward trend and currently below the neutral 50 level at 40.49, signaling a distribution phase rather than accumulation.
The Aroon Down Line is at 86%, pointing to a strong bearish momentum driven by consecutive price lows with minimal correction.
Currently trading at $0.63, bears may push the price towards a historical low of $0.40, but a demand resurgence could bring it back up to $0.86. Stay tuned for updates! 🌐
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AI Analysis
The upcoming release of 250 million PI tokens in June is poised to impact the market significantly, increasing the available supply and potentially exerting downward pressure on the price. Historicall...
AI Recommendation
Given the imminent unlock event and current technical signals, a cautious approach is recommended. Investors should consider reducing exposure or setting tight stop-loss orders to manage risk exposure...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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