Pi Network’s PI Token Faces Continued Bearish Pressure, Potentially Revisiting All-Time Low Amid Weak Demand
The post Pi Network’s PI Token Faces Continued Bearish Pressure, Potentially Revisiting All-Time Low Amid Weak Demand appeared on BitcoinEthereumNews.com. Pi Network’s PI token has dropped 10% over the past week, despite a broader market recovery, showing continued bearish pressure. Technical indicators, including the RSI, OBV, and CMF, signal weakening demand and growing sell-side pressure. With current trends, PI could revisit its all-time low of $0.40 unless a bullish reversal pushes it towards $1.01. Pi Network’s PI token faces significant selling pressure as it declines 10% amidst market recovery, raising concerns about future price resilience. PI Risks Deeper Drop Despite some strength across the broader market, investor sentiment toward PI remains weak, with technical indicators suggesting that its price decline could continue. The Relative Strength Index (RSI), a key momentum indicator that tracks an asset’s overbought and oversold market conditions, continues to drop, indicating falling demand and growing selling pressure. At press time, PI’s RSI is in a downtrend at 39.78. This RSI reading indicates weakening momentum and positions the token just above oversold territory, suggesting that continued selling pressure could trigger further losses. Furthermore, Pi Network’s on-balance volume (OBV) has also decreased, pointing to declining accumulation and reduced buyer interest. This indicator stands at -1.26 billion, dropping by 15% in the past week. The OBV measures buying and selling pressure by tracking volume flow relative to price movements. When the OBV falls, it signifies that more volume is related to selling than buying, indicating a weakening investor confidence and potential for further price declines. PI Token Risks Retesting All-Time Low PI’s plummeting Chaikin Money Flow (CMF) supports the bearish outlook mentioned previously. At press time, this indicator, which tracks how money flows into and out of an asset, is below the zero line at -0.15. This negative reading reflects the strength of the sell-side pressure in the PI spot markets. If this trend persists, PI could revisit its all-time…
The post Pi Network’s PI Token Faces Continued Bearish Pressure, Potentially Revisiting All-Time Low Amid Weak Demand appeared on BitcoinEthereumNews.com.
Pi Network’s PI token has dropped 10% over the past week, despite a broader market recovery, showing continued bearish pressure. Technical indicators, including the RSI, OBV, and CMF, signal weakening demand and growing sell-side pressure. With current trends, PI could revisit its all-time low of $0.40 unless a bullish reversal pushes it towards $1.01. Pi Network’s PI token faces significant selling pressure as it declines 10% amidst market recovery, raising concerns about future price resilience. PI Risks Deeper Drop Despite some strength across the broader market, investor sentiment toward PI remains weak, with technical indicators suggesting that its price decline could continue. The Relative Strength Index (RSI), a key momentum indicator that tracks an asset’s overbought and oversold market conditions, continues to drop, indicating falling demand and growing selling pressure. At press time, PI’s RSI is in a downtrend at 39.78. This RSI reading indicates weakening momentum and positions the token just above oversold territory, suggesting that continued selling pressure could trigger further losses. Furthermore, Pi Network’s on-balance volume (OBV) has also decreased, pointing to declining accumulation and reduced buyer interest. This indicator stands at -1.26 billion, dropping by 15% in the past week. The OBV measures buying and selling pressure by tracking volume flow relative to price movements. When the OBV falls, it signifies that more volume is related to selling than buying, indicating a weakening investor confidence and potential for further price declines. PI Token Risks Retesting All-Time Low PI’s plummeting Chaikin Money Flow (CMF) supports the bearish outlook mentioned previously. At press time, this indicator, which tracks how money flows into and out of an asset, is below the zero line at -0.15. This negative reading reflects the strength of the sell-side pressure in the PI spot markets. If this trend persists, PI could revisit its all-time…
What's Your Reaction?
