Summary
- BeInCrypto analyzed that the On-Balance Volume (OBV) of Pi Coin has surged over the past two trading days.
- The rise in OBV indicates a surge in buying pressure for the cryptocurrency.
- Although the price of Pi Coin remains sluggish, it seems that investors are starting to accumulate.
Since its major exchange listing last February, Pi Network (PI), commonly known as Pi Coin, has been on a continuous downtrend, but a positive analysis has emerged.
On the 6th (KST), the cryptocurrency-focused media outlet BeInCrypto analyzed that "the On-Balance Volume (OBV) of Pi Coin has surged over the past two trading days."
OBV is an indicator used to predict price movements using trading volume. A rise in OBV indicates a surge in buying pressure for the cryptocurrency.
BeInCrypto explained, "OBV is considered a leading indicator and may suggest a price increase," adding, "Although the price of Pi Coin remains sluggish, it seems that investors are starting to accumulate."
Meanwhile, as of 8:07 AM today, Pi Coin is trading at $0.5886, down 0.35% from the previous day, according to CoinMarketCap.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
