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Pi Network price is approaching a key threshold: what to do?
Pi Network (PI) has encountered strong selling pressure in the past few weeks, with its market value almost halved. The negative sentiment that emerged after KYC made investors uneasy, and technical indicators also showed a downward signal. As the PI price approaches a key support level, investors are beginning to question the potential for a recovery.
Pi Network: Selling pressure is increasing
Technical indicators show that selling pressure on Pi Network is gradually increasing. According to DMI (Directional Movement Index) data, the negative directional movement (-DI) has risen to a level of 26.2, while the positive directional movement (+DI) has dropped to a level of 16.1. This indicates that selling pressure is exceeding buying interest.
The ADX indicator is hovering around the 18.3 level, indicating that the current trend has not yet gained strong momentum, but still suggesting that the downward trend is continuing. If +DI does not recover and ADX does not exceed the 20 level, then the PI price may continue to face greater pressure in the coming days.
Funding Flow Index Support Declines
The CMF (Chaikin Money Flow) indicator of Pi Network has sharply turned in the past four days, dropping from 0.15 to -0.14. This indicates an increase in selling pressure and a weakening of buying power in the market.
CMF in the negative zone indicates that investors are avoiding risks, and liquidity is mainly seller-oriented. If this downward trend continues, the pressure on prices may further intensify, and the level of $1.23 may be threatened.
Will Pi Coin drop below $1?
If the current downtrend continues, the price of Pi coin may test the support level of $1.23. If this level is broken, the price may fall below $1.20, and may see such low levels for the first time since February.
On the other hand, if the market recovers, it is crucial for Pi Coin to break through the $1.57 resistance. If this resistance is breached, the price may rise to $1.82 and trigger a rebound towards the psychological barrier of $2. However, the market is still under the control of sellers at present, and investors need to remain vigilant. Therefore, investors should closely monitor the $1.23 level and be prepared for lower levels in the event of a possible breakthrough. However, if the market momentum strengthens and there is a large amount of buying, the price of Pi Coin may once again move towards the $2 level.