Pi Network Faces 30.95% Selling Pressure, Death Cross Looms

Recent technical indicators suggest that the Pi Network is facing increasing bearish pressures, raising concerns about its ability to maintain critical support levels. The Directional Movement Index (DMI) has shown a significant shift, with the ADX dropping from 43.68 to 39.17, indicating a growing bearish sentiment. The +DI has fallen from 22.11 to 13.29, while the -DI has surged from 11.32 to 30.95, highlighting the dominance of selling pressure.

The Chaikin Money Flow (CMF) indicator has also turned sharply negative, moving from 0.07 to -0.13 in a single day. This shift is a strong indicator of growing bearish sentiment and potential further declines in the Pi price. Additionally, the Pi coin chart shows a looming death cross, where the short-term moving average crosses below the long-term moving average, a pattern historically linked to further price declines. If the price continues to drop, it could soon approach the critical support level of $0.50.

Investor discussions within the Pi Network community have pointed out the resemblance between this setup and other altcoins that suffered major downturns in the past. Concerns over transparency and previous market events have intensified, making many investors wary of the Pi price movement in the short term. The Pi network price could face a significant test at the $0.50 mark. If the price drops below the current support level of $0.54, it might quickly head towards the $0.48–$0.50 range. Such a move could indicate a complete shift in market sentiment. Given the current bearish sentiment, further drops seem likely unless a sharp reversal is seen.

However, there remains the possibility of a turnaround. If bullish traders step in and volume increases, the Pi price could bounce back toward resistance levels around $0.66. A breakthrough here could suggest that the Pi coin chart is signaling a recovery, with the next potential resistance set at $0.789. For now, though, the market remains cautious, and the Pi network price is under scrutiny.

The Pi network price is under significant pressure, as indicated by several technical factors. These factors include the DMI, CMF, and the impending death cross on the Pi coin chart. With bearish sentiment dominating, the price faces a crucial test at $0.50. Traders should be alert to any shifts in momentum and be ready to adjust strategies based on the latest indicators. As market dynamics continue to evolve, staying updated on the Pi price will be essential to navigate the volatile conditions ahead.