Pi Network Unlocks 2.5 Million Users for Mainnet Migration
- User Unlock Progress: The Core Team of Pi Network announced a technical update that is expected to unblock 2.5 million users for Mainnet migration, particularly in certain regions, despite criticism over the project's complicated compliance and KYC procedures.
- KYC Application Expansion: The team promised that over 700,000 additional users will soon be able to submit KYC applications, previously ineligible due to compliance issues, which is expected to enhance user engagement and the network's compliance integrity.
- Token Price Challenges: Despite the new updates, the Pi token continues to face pressure, recently hitting an all-time low of $0.1514 amid market crashes, down 94.8% from its peak less than a year ago, indicating a lack of market confidence.
- Unlocking Schedule Impact: In the coming month, an average of nearly 7 million tokens will be released daily, which could intensify short-term selling pressure, especially with nearly 24 million tokens set to unlock on February 13, potentially negatively impacting prices.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR) As of , Major (MAJOR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0609 | 0.0686 | 0.0777 | 0.0855 | 0.0946 | 0.102 | 0.111 |
| Fibonacci | 0.0686 | 0.0751 | 0.079 | 0.0855 | 0.0919 | 0.0959 | 0.102 |
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