Pi Network (PI) Plummets 10% Amid Bearish Momentum

Pi Network (PI) has experienced a significant drop of nearly 10% in the last 24 hours, as multiple indicators point to growing bearish momentum. The Directional Movement Index (DMI) shows a clear shift from an uptrend to a downtrend, while the Chaikin Money Flow (CMF) data confirms increasing outflows. The Exponential Moving Average (EMA) lines are also warning of a potential death cross, which could trigger further losses.

The DMI chart for Pi Network reveals a shift in momentum, with the Average Directional Index (ADX) dropping from 43.68 to 39.17 over the past two days. Although the current reading still suggests solid momentum, the recent decline in ADX combined with the trend reversal from uptrend to downtrend signals that bullish strength is fading and bearish pressure is taking control. The +DI (Directional Indicator) has dropped sharply from 22.11 to 13.29, while the -DI has surged from 11.32 to 30.95. This crossover and widening gap confirm that sellers are now in control, typically pointing to continued downside, especially if the -DI remains dominant and the ADX stabilizes or rises again, signaling a strengthening bearish trend.

Supporting this shift, the CMF has dropped sharply to -0.13, down from 0.07 just a day ago. The CMF is a volume-based indicator that measures the flow of money in and out of an asset over a set period. It ranges from -1 to +1, with positive values indicating buying pressure and negative values suggesting selling pressure. A sudden shift from positive to negative typically signals a change in sentiment and potential weakness ahead. With the CMF now at -0.13, it suggests that outflows are picking up and sellers are becoming more active. This kind of drop often reflects reduced demand and a lack of confidence from buyers, especially if it comes alongside declining prices or weakening momentum indicators. If the CMF remains in negative territory, it could point to sustained bearish pressure and a risk of further downside for PI unless strong inflows return soon.

Pi Network’s EMA lines are signaling a potential death cross, where the short-term moving average crosses below the long-term moving average. This is typically seen as a bearish sign, often preceding further downside. If confirmed, it could lead PI to retest the support level at $0.54. A break below that level may open the door for a move under $0.50, especially if overall momentum continues to weaken. However, if the trend reverses and buyers step back in, PI price could regain strength and push toward the resistance at $0.66. A breakout above that level would be an early sign of renewed bullish momentum. If that move holds and gains traction, the next key target would be $0.789, which could be a major test of the strength of the recovery.