Pi Network (PI) is facing a stable downtrend, with prices falling as investor sentiment weakens. The weak bullish momentum in the overall market, along with the declining confidence of investors, is contributing to the decline. Therefore, the price of Pi Network is struggling to regain upward momentum and is at risk of falling below the important level of 0.60 dollars.
Pi Network investors are pessimistic
The Relative Strength Index (RSI) of Pi Network has been stuck in a bearish zone below the neutral level since the end of May. The RSI continues to fall deeper into this zone, indicating that negative momentum is strengthening.
When the RSI is still in the bearish zone, it indicates that buying pressure is insufficient, further reinforcing the downtrend.
The persistent pessimism reflected in the RSI is a clear indication that investor sentiment is leaning more towards selling than buying. This adds to the overall negativity surrounding Pi Network, signaling that this altcoin may continue to struggle to gain traction in the market.
The macro dynamics of Pi Network are also being affected by fluctuating investor sentiment. Investor confidence seems to be gradually decreasing, oscillating between positive and negative outlooks.
A lack of consistent confidence in this token could lead to higher selling levels as investors seek to limit losses in the face of uncertainty.
When investor confidence falls, many holders may choose to sell their PI shares, adding to the downtrend. This selling activity, driven by fear of further losses, could exacerbate the challenges that Pi Network faces in regaining positive growth momentum.
PI Price Faces a Fall
Currently, Pi Network is trading at $0.63, holding above the key support level of $0.61. This altcoin is attempting to bounce off this support level to recover some recent losses.
If Pi Network can maintain this level and witness increased buying interest, it may recover part of the losses incurred over the past weeks.
However, considering the ongoing negative trend, Pi Network is at risk of falling below $0.61. If the price drops below this support level, it could fall further to $0.57.
Such a decline will prolong losses for investors and reinforce the 下行 trend. Continuing to slide below this level will signal further depreciation in the value of the token.
On the other hand, if Pi Network can bounce off the support level of $0.61, the price could rise back to $0.71. This recovery would allow Pi Network to reclaim some recent losses and invalidate the bearish argument. A successful recovery could signal a change in momentum, allowing the price to potentially rise back to higher levels.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
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MoonlightTreasureBox
· 06-08 22:14
fool
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徒死
· 06-08 21:32
I see it can rise to a maximum of 0.75, and there is a possibility it could drop to 0.4 and lower .
Pi Network Has the Potential to Drop Below 0.60 USD – Here's Why
Pi Network (PI) is facing a stable downtrend, with prices falling as investor sentiment weakens. The weak bullish momentum in the overall market, along with the declining confidence of investors, is contributing to the decline. Therefore, the price of Pi Network is struggling to regain upward momentum and is at risk of falling below the important level of 0.60 dollars. Pi Network investors are pessimistic The Relative Strength Index (RSI) of Pi Network has been stuck in a bearish zone below the neutral level since the end of May. The RSI continues to fall deeper into this zone, indicating that negative momentum is strengthening. When the RSI is still in the bearish zone, it indicates that buying pressure is insufficient, further reinforcing the downtrend. The persistent pessimism reflected in the RSI is a clear indication that investor sentiment is leaning more towards selling than buying. This adds to the overall negativity surrounding Pi Network, signaling that this altcoin may continue to struggle to gain traction in the market.
The macro dynamics of Pi Network are also being affected by fluctuating investor sentiment. Investor confidence seems to be gradually decreasing, oscillating between positive and negative outlooks. A lack of consistent confidence in this token could lead to higher selling levels as investors seek to limit losses in the face of uncertainty. When investor confidence falls, many holders may choose to sell their PI shares, adding to the downtrend. This selling activity, driven by fear of further losses, could exacerbate the challenges that Pi Network faces in regaining positive growth momentum.
PI Price Faces a Fall Currently, Pi Network is trading at $0.63, holding above the key support level of $0.61. This altcoin is attempting to bounce off this support level to recover some recent losses. If Pi Network can maintain this level and witness increased buying interest, it may recover part of the losses incurred over the past weeks. However, considering the ongoing negative trend, Pi Network is at risk of falling below $0.61. If the price drops below this support level, it could fall further to $0.57. Such a decline will prolong losses for investors and reinforce the 下行 trend. Continuing to slide below this level will signal further depreciation in the value of the token.
On the other hand, if Pi Network can bounce off the support level of $0.61, the price could rise back to $0.71. This recovery would allow Pi Network to reclaim some recent losses and invalidate the bearish argument. A successful recovery could signal a change in momentum, allowing the price to potentially rise back to higher levels.