Pi Network (PI) continued a strong downward trend after it fell to the US$ 0.10 support position, and the seller continued to dominate despite the apparent excess power. Dealers should pay close attention to the US$ 0.080 support and US$ 0.109 resistance positions, as the next breakthrough may determine the short-term direction of PI.
In the past 24 hours, PI prices have fallen by 5.8 per cent, with a transaction price of $0.0857, with a minimum of $0.0,850 per day. This decline was accompanied by a trade volume of 3,818 million PIs, which continued the decline in the currency for many days and pushed it below the critical US$ 0.10 psychological support level.
Reason for the fall in Pi Network prices
- The unlocking of tokens has increased the flow of supplies and brought new market pressure.
- Markets have difficulty absorbing additional supplies due to weak demand.
- PI broke critical technology support, triggering new sales and weakening market sentiment.
PI price trends indicate further downside risk
The prospect of falling is further enhanced by the refusal to reduce the wedge resistance level. The fact that PI failed to break the rising trend line but accelerated the downswing indicates that the seller remained active in each rebound. In addition, this decline was accompanied by a marked increase in trading activities, showing the dynamism of larger market participants, not just retail sales.
PI ' s Future Outlook
Pi Network continues to be one of the weakest graphs in the market. The fall of the US$ 0.10-0.109, the rejection of the wedge resistance and the lack of strong buying interest indicate that the seller continues to dominate the trend. Until the buyer regains the key resistance position, the minimum resistance path remains down.