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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Dare to trade. Dare to win.
#pi 🚨🚨🚨Rise of Pay Network coin by 3.2% after upgrades, targeting a price of 0.53 Dollar.
The price of the Pay Network coin has risen by 3.2% to reach $0.3665 today, August 8, after dropping to a low of $0.335 earlier this week. A promising double bottom pattern has emerged, shaped like a W, indicating a potential rise of 40% to $0.53.
The trading volume has risen by 52% to reach 76 million Dollar according to CoinMarketCap data, indicating increased interest from traders. With two major upgrades in the Pay Network, traders hope for a significant rise.
Network upgrades enhance trust
The double bottom pattern formed when the price of By Network settled at 0.336 Dollar, attracting buyers. If it surpasses the resistance level at 0.3773 Dollar, the pattern may confirm, paving the way for a price of 0.53 Dollar.
The Relative Strength Index (RSI) above 50, and the price approaching the 50-day simple moving average, indicate that buyers are gaining momentum, as was the case in June and July.
This enthusiasm is attributed to two changes in the network: the upgrade of the Steller 23 protocol, which enhances the shared infrastructure of Pi, and the improvement of KYB processes that facilitate the use of Pi. These upgrades have led to the departure of 2.8 million coins from trading platforms, according to Piscan data, which means that more people own them.
However, some are still selling, so buyers need to take control to reach 0.53 Dollar. The increasing credibility of Pi may contribute to rising prices if reliance on it continues. Looking ahead to 2025, analysts believe that Pi could reach two Dollars or more if the value of the network and market sentiment remain strong.
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