What does the Pi network have for this August?

On August, controversial altcoin is facing further pressure due to important release of chips that could still consider their already fragile market structure.

156 million tokens in net network at the market of market

This August, PI Network faces a significant event unlocking tokens. According to Piscan data, 156 million tokens should be released for approximately $ 68 million at current prices for 31 days.

This unlock adds a considerable lower risk for already under the pressure token, with a small bull that promotes reflection.

Currently, it has exchanged $ 0.43, at the coin, the recent assembly of the entire crypto market, during which many assets reached new historical heights. Altcoin was indeed slowed down by aggressive pressure on the side of the offer, with more than 250 million chips to circulate.

With a minimum requirement to buy on the balance of this offer, it was not possible to perform dynamics and remains locked in a narrow range, dangerously close to its historical cavity $ 0.40.

Pi faces quite grim August

Data from daily graphic display technical indicators with reduced signals without clear tags. For example, an accumulation/distribution line (A/D) PI, measuring the volume of purchase compared to the sales volume, has been regularly decreasing since June 26.

Currently, at -1.01 million, its value has since decreased by more than 85 %, emphasizing the decreasing market interest participants.

When the A/D line of asset throws in this way, the volume of sales exceeds the purchase pressure. This trend shows the permanent weakening of the demand for the PI network and indicates the growing risk of reducing new prices in August.

In addition, after an unsuccessful attempt to exceed the neutral line 50 22. It is currently 38.92, reflecting the power of sellers on the cash markets.

It recalls that the RSI indicator measures market conditions for playing -racket and the occurrence of asset. They differ between 0 and 100. The values greater than 70 indicate that the asset is over -a that the price drop is expected, while the values of less than 30 indicate that assets are argued and could experience a reflection.

At 38.92 and down, RSI PI signals increasingly approaching dynamics as August is approaching. This suggests that the token could undergo new drops unless the turnover would soon come.

Can the course survive the issue of $ 68 million in August?

Without a new demand to absorb 156 million pi token that is released next month, altcoin may drop to a historical cavity of $ 0.40. A deeper decline below this level remains likely if bear dynamics are strengthened by more beautiful.

However, if the current trend turns and the buyers return to the market, they could allow the PI price to be stabilized in August and try to move it over a $ 0.46 resistance level.

History Morality: Network Pi, Pioneer Network of Trends.