The post PI could drop below $0.22 amid a strong bearish trend: Check forecast appeared on BitcoinEthereumNews.com. Key takeaways PI is down 2% in the last 24 hours and could drop below $0.22 if the bearish trend continues. The technical outlook indicates short-term risk. PI could dip lower amid poor technicals Pi Network (PI) has been underperforming over the past three days and risks dropping below a critical support trendline. The on-chain data indicates an increase in supply pressure as Centralized Exchanges (CEXs) experience a surge in inflows.  Data obtained from PiScan reveals that user deposits over Pi Network’s Know Your Business (KYB)-verified CEXs totaled 2.75 million PI tokens in the last 24 hours. The deposit is far greater than the withdrawals of 1.76 million tokens. Thus, indicating a daily net inflow of CEXs, suggesting that investors might be selling some of their stash.   Will Pi Network drop below the $0.22 support line? The PI/USD 4-hour chart is bearish and efficient as PI has lost 2% of its value in the last 24 hours. The cryptocurrency is retracing toward a local support trendline formed from the October 22 and November 4 lows.  At press time, PI is trading at $0.2267, with a bearish trend currently in play. The technical indicators are bearish, suggesting further downward movement. The RSI of 37 shows that PI is heading into the oversold region if the trend continues. The MACD lines are also within the bearish region. If the trend persists, PI could decline below the Monday low of $0.2204, with another major support just around the $0.1919 region.  However, if the bulls regain control, PI could reclaim last week’s high at $0.2841. An extended bullish run would allow PI to eye the August 1 low at $0.3220. However, the current market conditions remain bearish, with PI expected to underperform over the next few days. Share this article Categories Tags Source: https://coinjournal.net/news/pi-could-drop-below-0-22-amid-a-strong-bearish-trend-check-forecast/

The post Pi Price Under Pressure—Is the $0.20 Support About to Fail? appeared first on Coinpedia Fintech News The Pi price action is flashing early warning signs as the token slips beneath a key trading range, threatening to deepen the correction that began after multiple rejections near $0.29. While the market remains in a consolidation phase, the structure is weakening, and Pi now sits at a make-or-break point that could define its December …

The post China Issues New Cryptocurrency Warning! This Altcoin Is Used As an Example! appeared on BitcoinEthereumNews.com. China, known for its harsh bans on Bitcoin (BTC) and cryptocurrencies, does not compromise on this harsh stance. China, which frequently warns about cryptocurrencies, has issued another warning. The China Futures Association has issued a risk warning on its official website, along with several other institutions. Accordingly, the China Internet Finance Association, China Banking Association, China Securities Association, China Asset Management Association, China Futures Association, China Listed Enterprises Association, and China Payment and Clearing Association issued a risk warning regarding the prevention of illegal activities related to cryptocurrencies. A joint statement issued by seven Chinese institutions stated that cryptocurrencies are not recognized as legal tender and that all trading and brokerage services related to them are illegal. “Cryptocurrencies are not issued by monetary authorities. It is not legal tender, does not have the same legal status as legal tender, and cannot be used as currency within the country. Stablecoins carry the same risks.” Seven top institutions have issued warnings, citing Pi Coin (PI) as an example of a particularly worthless cryptocurrency. Referring to Pi Coin, the joint statement stated, “These crypto assets do not have any significant technological innovation and have no commercial value or use. They engage in illegal fundraising, pyramid schemes, and other illegal activities under the guise of mining, and transfer the proceeds of these illegal activities through virtual assets.” The institutions recently warned the Chinese public to be extremely cautious of any cryptocurrency-related business activities and urged that any suspicious activity detected be reported immediately to the relevant regulatory authorities and the police. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/china-issues-new-cryptocurrency-warning-this-altcoin-is-used-as-an-example/