Pi Network’s recent price action has shown a clear decline, signaling potential continued losses.
Market conditions have deteriorated for this altcoin, with growing investor caution possibly driving further declines. As sentiment weakens, Pi Network may face ongoing downward pressure.
The Chaikin Money Flow (CMF) indicator reveals rising outflows for Pi Network, signaling a growing investor sell-off. CMF is currently slightly below the zero line, suggesting that selling volume is overtaking buying pressure. If the trend persists, it could indicate waning confidence and conviction among holders.
This growing dominance of outflows over inflows reflects hesitation and a loss of faith in Pi Network’s near-term potential. Investors seem increasingly wary, leading to further selling that could weigh on price.
Pi Network is presently experiencing an active squeeze, as indicated by the squeeze momentum indicator. Black dots on the chart signal periods of low volatility, typically followed by a release marked by blue dots where prices move sharply. The current squeeze is building bearish momentum.
Given the prevailing negative momentum, the impending volatility release is likely to drive a swift price decline. This technical pattern often precedes significant moves downward, reinforcing the bearish outlook for Pi Network.
Pi Network is trading at $0.67 after losing the critical support level of $0.71 within the last 24 hours. This breach suggests the altcoin may continue to slide lower over the next several days as bearish sentiment gains ground.
The immediate local support lies at $0.61. Should Pi Network fail to hold this level, the price could further drop toward $0.57. Such a move would deepen losses for investors and extend the downtrend.
Conversely, if Pi Network manages to reclaim $0.71 as a support level, it could spark a recovery. A rise above $0.78 would signal renewed buying interest and invalidate the short-term bearish thesis, potentially reversing the negative trend.
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