Pi Network (PI) has recently faced a sharp price drop, briefly falling below $1, a decline worsened by Binance’s exclusion of the token from its latest vote-to-list campaign. This decision has shaken investor trust, accelerating the downward pressure on PI’s value and prompting many to withdraw their investments.
The Chaikin Money Flow (CMF) for Pi Network has plummeted to its lowest level since the project began, reflecting record-high outflows. This metric underscores a growing lack of faith among investors, with funds exiting the altcoin at an unprecedented rate. The resulting negative sentiment has fueled further sell-offs, dragging the price down even more. These sustained outflows could leave a lasting mark on Pi Network’s valuation, as diminishing confidence may trigger additional exits, intensifying the bearish trend.
On the technical side, Pi Network’s Relative Strength Index (RSI) recently hit oversold territory before rebounding slightly. This bounce is often interpreted as a hint of a potential reversal, suggesting that the intense selling pressure might be easing. However, despite this uptick, PI has yet to show meaningful growth, indicating that broader market headwinds remain dominant.
As of now, Pi Network is trading at $1.00, a steep 44% drop over the past ten days. The token has managed to stabilize just above this psychological level, but persistent outflows and unfavorable market conditions cast doubt on its ability to hold steady. Should selling pressure persist, PI could slide toward the $0.92 support level. A break below this threshold might trigger a further drop to $0.76, deepening its recent losses. Investors will need to monitor these key levels closely for signs of either a breakdown or a reversal.
On the flip side, if Pi Network can reclaim $1.19 as a support level, it might signal the start of a recovery. A sustained move above this mark could propel the price toward $1.43, allowing the token to claw back some of its recent declines. For now, though, the path forward remains uncertain as market dynamics continue to evolve.
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