Pi Network (PI) has been under hard sales pressure in recent weeks and the market value has fallen almost half. The negative sentiment, which started after KYC, makes investors uneasy, while technical indicators also give signals of decrease. While the PI price approaches critical support levels, investors question the possibility of a possible recovery.
Pi Network: Sales pressure is getting stronger
Technical indicators show that sales pressure on Pi Network is increasing. According to DMI (Directional Movement Index) data, the negative movement moved to 26.2 levels and decreased to the positive direction (+DI) to 16.1. This shows that sales pressure overshadow the purchase interest.
The fact that the ADX indicator at 18.3 shows that the trend has not gained a strong acceleration for the time being, but indicates that the decline tendency is still continuing. If +DI does not recover and does not exceed the ADX 20 level, the PI price may be under more pressure in the coming days.
Money Flow Indicator supports the decline
The Pi Network’s CMF (Chaikin Money Flow) indicator has made a sharp rotation in the last four days and fell from 0.15 to -0.14. This shows that sales pressure in the market has increased and that buyers are weakened.
The fact that the CMF remains in the negative region proves that investors avoid risk and that liquidity is largely sales. If this decline tendency continues, the pressure on the price may increase and the level of $ 1.23 may be in danger.
Pi Coin Does it fall below $ 1?
If the current decrease trend continues, the Pi Coin price can test $ 1.23. If this level breaks, the price may hang below $ 1.20 and these low levels may be seen for the first time since February.
On the other hand, it will be critical for Pi Coin to exceed $ 1.57 if the market recovers. If this resistance breaks, the price may rise to $ 1.82 and start a rally towards the psychological level of $ 2. However, for the time being, market sellers should be under the control of and investors should be careful. Therefore, investors should closely follow the level of $ 1.23 and should be prepared for lower levels in case of a possible breakage. However, if the market gains strength and voluminous purchases arrive, the price of Pi Coin can gain acceleration towards $ 2 again.
