Pi Network's recent price movement shows a clear downward trend, suggesting the possibility of additional losses.
The market situation of this altcoin has deteriorated, and as investor caution increases, it may lead to further declines. As investment sentiment weakens, Pi Network may face continued downward pressure.
Pi Network, Decrease in Investor Interest
The Chaikin Money Flow (CMF) indicator shows an increase in capital outflow for Pi Network, suggesting that investor selling pressure is growing. The CMF is currently slightly below the zero line, indicating that selling volume exceeds buying pressure. If this trend continues, the confidence and conviction of holders may weaken.
This phenomenon of outflows overwhelming inflows reflects a loss of confidence in Pi Network's short-term potential. Investors are becoming increasingly cautious, which could lead to additional selling that may burden the price.
Pi Network is currently experiencing an active squeeze as indicated by the Squeeze Momentum indicator. The black dots on the chart represent periods of low volatility, which typically lead to sharp price movements indicated by blue dots. The current squeeze is building downward momentum.
Considering the current negative momentum, the upcoming volatility release is likely to cause a rapid price decline. This technical pattern often reinforces the downward trend, supporting a negative outlook for Pi Network.
PI Price Decline
Pi Network is currently trading at $0.67, having lost the important support level of $0.71 in the past 24 hours. This breakdown suggests that the altcoin may continue to decline in the coming days.
The immediate local support is at $0.61. If Pi Network fails to maintain this level, the price could drop further to $0.57. Such a movement would exacerbate investor losses and extend the downward trend.
Conversely, if Pi Network recovers $0.71 as a support level, it could trigger a recovery. Rising above $0.78 could renew buying interest and invalidate the short-term bearish logic, potentially reversing the negative trend.
