While the stormy days continue in the crypto currency market, Pi Network (PI) investors are in serious concern. PI, which has not been able to get out of the fall trend for a long time, is moving towards the lowest level of all time. Despite the previous hopeful expectations, the continuous decrease in the price has been seriously shaken by investor confidence. While technical indicators point to the decline, it seems inevitable that a new bottom level will occur in the market.
ADX indicator gives alarm: bear trend is getting stronger
Recent technical data clearly reveals that the pressure pressure has increased. In particular, the ADX (Average Directional Index) indicator exceeds 25 levels, indicates that the trend is strengthened. This shows that it would be difficult to recover in the short term for the PI price. The fact that the fall trend is so strong causes investors to be even more cautious.
The fact that ADX continues to rise shows that the negative acceleration in the market has become permanent. At this point, most of the investors question long -term potential. While the purchase interest decreases, the increase in sales pressure may trigger deeper losses for PI network.
CMF data does not give hope either: investor interest weak
The CMF (Chaikin Money Flow) indicator, which measures Pi Network’s money entry-outputs, supports the pessimistic table. Although there has been a small increase in recent days, the indicator is still in the negative region. This clearly reflects that investors’ interest in Tokena is low.
Limited recovery in CMF may be caused by short -term purchase movements. However, if the investor confidence is shaken again, this increase may be reversed in a short time. If money outlets continue, the PI price may be faced with a strong wave of sales again.
What happens if the Pi network price loses $ 0.62 support?
The Pi, which is currently traded at $ 0.70, is very close to $ 0.62, the lowest level of all time. Altcoin, which lost 12.8 %in the last 24 hours, could not maintain $ 0.87 as support. This once again revealed the lack of confidence of the market.
If the decline persists and the $ 0.62 level is broken, the PI price may decrease to $ 0.50. This means a new atl (All-Time Low). On the contrary, the investor interest for a scenario should increase rapidly and the price must become permanent over $ 0.87. However, this scenario seems quite weak for now.
