Pi Network Faces Renewed Selling Pressure: Bearish Momentum Continues

Pi Network’s native token is under intense selling pressure, with key technical indicators pointing to a bearish market trend. Once a popular project with strong community backing, Pi’s recent price decline reflects growing negative sentiment and a lack of strong buying interest. As sellers take control, concerns about further depreciation continue to mount. In this article, we analyze the technical indicators, market sentiment, and key support and resistance levels to determine what’s next for Pi Network.

Pi Network’s Token Struggles as Selling Pressure Increases

Pi Network’s native token is facing intense selling pressure, with technical indicators signaling bearish dominance. Unless buying volume surges to shift market sentiment, further price declines could be imminent.

Bears Take Control: Pi Network’s Value Drops by Nearly 50%

Once a rising star in the crypto space, Pi Network is now battling heavy losses. After peaking at $19.2 billion in February, its market cap has plummeted to $9.2 billion—a nearly 50% drop. This steep decline reflects increasing negative sentiment and growing dominance of sellers in the market.

Technical Indicators Confirm a Bearish Trend

Several key technical indicators suggest that Pi’s downward trajectory is far from over:

Average Directional Index (ADX)

• Currently at 18.3, signaling a weak and uncertain trend.

Directional Indicators (+DI and -DI)

• The +DI, representing bullish strength, has fallen from 23 to 16.1 in two days, while the -DI, indicating bearish strength, has surged from 19.6 to 26.2. This widening gap confirms sellers’ dominance and an ongoing downtrend.

With these indicators strongly favoring the bears, a short-term price recovery appears unlikely.

Money Flow Data Highlights Sustained Selling Pressure

The Chaikin Money Flow (CMF) has dropped to -0.14, its lowest level in a week. CMF tracks the volume and intensity of buying versus selling, and a negative value signals capital outflows. This persistent downward reading suggests that sellers are not only active but maintaining their dominance.

Without a significant increase in buying volume, Pi Network’s token will likely remain under pressure, struggling to regain lost ground.

Key Support and Resistance Levels to Watch

With bearish momentum prevailing, traders should watch these crucial price levels:

Support Levels

• $1.23: A critical threshold. A break below this level could push the price further down, potentially under $1.20—territory last seen on February 22.

Resistance Levels

• $1.57 and $1.82: These levels represent immediate hurdles for any potential bullish recovery.

• $2.00: A break above this mark could indicate a trend reversal, though current market conditions make this scenario unlikely.

What’s Next for Pi Network?

Pi Network’s sharp decline serves as a reminder of how swiftly sentiment can shift in the volatile crypto market. While the project boasts a strong following, technical weakness and sustained selling pressure continue to weigh on its price.

Investor Strategy: Proceed with Caution

For now, a cautious approach seems wise. With the market trending bearish and key indicators signaling further downside, Pi’s price could face additional declines before any significant rebound occurs.

Traders and investors should closely monitor support and resistance levels while staying updated on broader market trends. A shift in momentum could provide opportunities, but until then, patience and strategic planning are essential.