
Pi Network, once a promising cryptocurrency project, is now facing intense bearish pressure, pushing it toward a new all-time low (ATL). The token, which gained early traction for its unique mobile mining approach, is now struggling to maintain investor confidence as market conditions remain unfavorable. With weak buying support, increasing sell-offs, and growing uncertainty, Pi Network’s downward trajectory continues.
Technical Indicators Show a Strong Bearish Trend
The Average Directional Index (ADX), a key indicator of trend strength, has surged past the 25.0 threshold, confirming that the bearish momentum is intensifying. This signals that Pi Network may struggle to recover in the short term unless there is a significant change in investor sentiment. The rising bearish trend suggests that the token could soon drop below its previous ATL of $0.62.
Another critical indicator, the Chaikin Money Flow (CMF), shows continued outflows, reflecting a lack of fresh capital entering the market. Although there was a minor uptick, the CMF remains negative, indicating that investors are hesitant to buy into the dip. Without a turnaround in sentiment, Pi Network could face further declines.
Investor Sentiment and Market Uncertainty
Investor confidence in Pi Network has weakened considerably. Many are questioning the long-term viability of the project, which has resulted in a surge in selling pressure. With a 12.8% price drop in the last 24 hours, Pi Network has failed to reclaim the $0.87 support level, highlighting the ongoing market skepticism. The inability to hold key levels could lead to a further breakdown, with potential drops to $0.50 or lower if bearish momentum persists.
What Needs to Happen for a Recovery?
For Pi Network to regain strength, the market must see increased buying interest and fresh capital inflows. If investors begin accumulating at the current low prices, the token could bounce back and attempt to reclaim the $0.87 resistance. Breaking past the $1.00 mark would be a crucial signal for a possible trend reversal. However, without strong buying volume, Pi Network risks further decline.
Final Thoughts: Is It Time to Buy or Wait?
Pi Network is at a make-or-break point, and investors should exercise caution. While long-term believers may see an opportunity to accumulate at low prices, the lack of strong support and growing bearish momentum suggest further downside risk. Until the market shows clear signs of recovery, traders should stay vigilant and avoid rushing into positions.
💡 Stay ahead of the market with Wallstreet Queen Official! Our expert analysis helps you navigate the volatile crypto space and capitalize on winning trades. Join our VIP group today and get exclusive insights before the rest of the market moves! 📊🔥
Leave a Reply