Pi Network (PI) has left UNISWAP behind the largest AirDrop in crypto history. However, price movements show uncertainty. ADX fell from 60.2 to 15, while RSI decreased to 40.2 after 90. This shows that the market has passed from rise to a cautious stance.
Pi Network’s ADX Value and Momentum Loss
Although Pi Network has great interest with its release, price movements are unstable. The ADX indicator does not specify direction when measuring the power of the trend. ADX’s fall from 60.2 to 15 reveals the loss of momentum in Pi Coin.
ADX’s decline to 15 shows that the market is uncertain and a clear direction cannot be determined. The falling volatility suggests that the price will watch horizontally for a while or act within the range until a new trend is formed.
Pi Network under sales pressure
Pi Network’s DMI data also shows the change in buying and selling prints. +DI (positive direction indicator) dropped from 60 levels to 16.3, while the -DI (negative direction indicator) rose from 4.2 to 21.6. This reveals that the procurement pressure has fallen and the sales gained dominance.
This change shows that the rise acceleration after the launch is reversed and sellers seized control. The low level of ADX and the decline in the price suggest that the market is in search of a new direction.
Pi Network RSI indicator decrease
The RSI indicator experienced a major decline after the launch of Pi Network. At the first exit, the RSI entered the excessive purchase zone by increasing 90 levels and fell to 25.1 in a few hours.
The RSI, currently at the level of 45.2, shows that over -sales pressure is alleviated, but the market is still cautious. While RSI’s rise above 50 may signal, the decrease in 30 levels may indicate that sales pressure may increase.
Does Pi Coin fall below $ 0.70?
If the sales pressure continues, Pi Coin may test the support zone of $ 0.71. This region is critical for maintaining the current level of the price.
If this level of support is broken, the fall trend may accelerate and more loss may be experienced. However, if the trend reverses, Pi Coin can test the resistance of $ 1. If this level is exceeded, the price has the potential to increase up to $ 1.26. Although the direction of the market is not yet clear, investors should closely follow price movements and technical indicators.
