Pl crypto's price pullback tests bulls - Is $0.113 still on the cards?


The Pl crypto price breakout beyond $0.10 last week was likely spurred by the Protocol 26 upgrade on the Mainnet. Pi Network [PI] crypto token continued to trade above the key short-term support zone at $0.085. On Saturday, the 22nd of August, the token raced higher to $0.11, before slumping 18% from the day's peak to close the daily session at $0.09.
The swift gains likely came as a result of the Pi Network announcement revealing the completion of the Protocol 26 upgrade on Pi Mainnet. A sharp move higher, followed by rapid profit-taking, did not bode well for the token's bullish chances.
The Pl crypto price breakout beyond $0.10 last week was likely spurred by the Protocol 26 upgrade on the Mainnet.
This move was used to take profits, making it even more difficult to argue the bullish case for the Pl token in the coming weeks.#GateLaunchesJapaneseStockTrading #U.S.StrikesIranBTCDips #GateIdleEarnAutoYieldUpTo3% #GateEventContractTradeSharingChallenge #EventContracts1%Reward $PI
PI-1.08%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
169 views
  • Reward
  • 5
  • Repost
  • Share
Comment
Add a comment
Add a comment
GaslightGardener
· an hour ago
An 18% pullback shows that the bulls have no confidence at all, and retail investors got rekt again.
View OriginalReply0
StickerCat
· an hour ago
It drops right after the Protocol 26 upgrade—the script is all too familiar, Pi’s old problem.
View OriginalReply0
HarmonyBreaker
· an hour ago
0.113 looks precarious—just pumped and then dumped, a typical sell-the-news move.
View OriginalReply0
VolumePriceAnalyst
· an hour ago
It would be good if the short-term support at 0.085 holds; don’t expect a new high.
View OriginalReply0
  • Pinned