The PI network (PI) recently experienced a significant drop trend, with price reductions that have left many holders confronted with losses.
Altcoin failed to free itself from this negative momentum, and market conditions continue to worsen. As a result, investors lose confidence and the price can continue to drop more.
The PI network continues to suffer
The Silver Silver Flow (CMF) continues to show lowering signs, remaining well below the zero line. This indicates that the network suffers from outings, which means that investors move their funds out of the PI network. Despite a bullish start, Pi failed to maintain interest, which has led many holders to sell their positions.
The output trend is worrying for investors, because the lack of positive impetus suggests a prolonged downward trend. The feeling of the market remains lower, the sellers prevail over buyers. As the CMF remains in the negative zone, it indicates that the price of PI Network could have trouble finding short -term stability.
Ichimoku’s cloud, a much used technical indicator, hovers well above the candlesticks, indicating that the downward trend is gaining strength. This indicates that there is little ascending momentum on the market, and the PI network is likely to cope with more pressure downwards.
In addition, wider market conditions are always negative, which suggests that the PI network may not recover in the immediate future. With lower -lower technical indicators and a lack of investor support, the PI network prospects remain dark for the moment.
Pi Price strikes a new hollow
PI Network is currently at a price of $ 0.61, having formed a new hollow of $ 0.60 after dropping almost 14% in the last 24 hours. Altcoin continues to fight under the weight of a negative feeling and does not show signs of short -term reversal.
Based on the current outings and lower lower technical indicators, the PI network will likely pursue its decline. It could fall to $ 0.50, potentially forming new stockings of all time. Current market conditions suggest that the recovery is unlikely without a significant change in feeling.
However, if Pi Network can bounce back on the level of $ 0.60, it could resume a certain support and return to $ 0.87. This would help recover some of the recent losses and potentially give Altcoin another chance to a bull movement. But, without a strong catalyst, it can find it difficult to cross the levels of resistance.
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