Pi recorded a modest gain of 1% in the last 24 hours, reflecting the wider market rally during this period.
However, despite this short -term increase, key technical indicators suggest that the token remains under significant lower pressure, with other losses on the horizon.
Pi purchase pressure fades while the lower signals dominate
The monetary flow of PE Chaikin (CMF) has maintained a downward trend since March 14, reflecting the low purchase activity among market players. At the time of the press, the indicator, which follows the way in which money flows in and outside an asset, is less than zero at -0.21.
When the CMF of an asset decreases and falls below zero, it signals to weaken the purchase pressure and increase the momentum of the sale. This indicates that the capital amounts to the IP while traders intensify yield efforts, exacerbating its drop in prices.
The decrease sustained below zero reinforces this downward perspective and alludes to new price reductions as long as Pi sellers remain dominant.
In addition, the impressive oscillator of PI (AO) returned a red histogram bar, with its value at -0.60. The indicator follows the short and long -term mobile averages to confirm or refuse market trends. It helps traders to assess whether optimistic or lower momentum is strengthened or weakens.
When the AO returns a red bar, the value of the current histogram is lower than the previous one, signaling an increase in down pressure. Traders use this as an early warning to leave long positions or prepare for a possible reversal of the market.
Several red bars are starting to appear consecutively on the graph of a Pi / USD day, which indicates that the purchasing force in its punctual markets fades quickly.
PI in makeup or breakup-will it dive at $ 0.62?
PI continues to negotiate in its descending parallel channel while the sellers strengthen their control. At the time of the press, Pi is negotiated at $ 0.85, near the lower trend line of this channel, which is a key support floor.
The channel emerges when the price of an asset moves between two trends parallel to the decline, indicating a downward downward trend. If the price is ready to break below the lower trend line, it signals an intensified sales pressure and an acceleration of the downward trend, which could cause new losses.
If Pi breaks below this support floor, it would add more pressure on its price and could force it to drop to $ 0.62.
On the other hand, a bullish trend reversal would prevent this. If the Pi request rises, its price could exceed $ 0.90.
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