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📉 Review of Yesterday (May 6)
• Narrow-range fluctuations: PI’s price fluctuated within the $0.179–$0.187 range, closing at about $0.1863 (+4%), with an RMB quote around ¥1.24. Overall, this was a low-volume weak rebound, lacking an independent trend.
• Background factors: Driven by Bitcoin holding steady above $80,000 and a brief delay in mainnet migration (easing sell pressure), sentiment improved slightly, but the overall weak outlook at the higher level remains unchanged.
🧭 Today (May 7) Outlook & Trading
1. Technical Analysis
• Trend: The daily chart is still oscillating near the bottom of the $0.17–$0.20 large box range; the MACD is close to the zero axis, and direction is unclear.
• Key Levels: Support at $0.175 (breakdown turns bearish); resistance at $0.195 / $0.20 (psychological levels).
2. Trading Recommendations
• Holders: If the rebound stalls around $0.195 and faces resistance, consider reducing positions; if it breaks below $0.175, you must cut losses.
• Out of the position: Mainly stay on the sidelines. This is a “chicken rib” market—only consider following on the right side if there is a breakout with increased volume through $0.20; do not chase gains at mid-range prices.
• Event watch: Pay attention to the Protocol 23 upgrade on May 11 and the deadline for the mandatory upgrade on May 15; stay alert to the possibility that favorable news turns into unfavorable news.
⚠️ Core Risks (Must Read)
• Non-mainstream coin attributes: PI has poor liquidity and highly dispersed holdings, making it extremely prone to a “pump-and-dump” style “draw-the-gate” scenario (a sharp surge followed by a flash crash).
• Regulatory uncertainty: The project is still in the mainnet transition period, with regulatory risks and sell-pressure from token unlocks.
• Disclaimer: The analysis above is based on public data and does not constitute investment advice. Cryptoassets have extremely high risks—please do not invest funds beyond what you can afford to lose. This is currently a “chicken rib” market; only a volume-backed breakout through