Pi Network Faces Renewed Selling Pressure as Bears Regain Control

Pi Network which was once popular, is now struggling as sellers take over the market. After peaking at $19.2 billion in February, Pi’s native token has lost almost half its value, now sitting at $9.2 billion. This massive decline reflects growing negative sentiment and an increase in sellers dominating the market.

Technical Indicators Show Bears in Charge

Several technical indicators suggest that Pi’s recent price slide is not quite over yet. One key metric, the Average Directional Index (ADX), stands at 18.3, indicating a weak and uncertain trend. However, a closer look at the Directional Indicators (+DI and -DI) shows that the bearish momentum is dominant. 

Over the last two days, the +DI, which tracks bullish strength, dropped from 23 to 16.1. At the same time, the -DI, which measures bearish strength, surged from 19.6 to 26.2. As the gap between the two grows, it becomes clear that sellers are dominating, confirming the ongoing downtrend. With these indicators leaning heavily bearish, a price recovery looks increasingly unlikely in the short term.

Selling Pressure Reflected in Money Flow Data

Adding to the gloomy outlook, the Chaikin Money Flow (CMF) has dipped to -0.14, its lowest reading in a week. CMF measures the volume and intensity of buying versus selling. A negative value, especially one this low, indicates that capital is flowing out of the asset rather than into it.

This persistent negative CMF reading reveals that sellers are not just momentarily active but are sustaining their pressure. The market currently lacks any signs of strong accumulation, meaning buyers aren’t stepping in aggressively enough to reverse the trend. Unless buying volume picks up significantly, Pi Network’s token is likely to remain under strain.

Price Targets: Support and Resistance Levels to Watch

With sellers dominating, all eyes are now on the critical support level at $1.23. If Pi’s price breaks below this mark, it could slide even further, potentially dropping under $1.20, territory it hasn’t seen since February 22.

On the flip side, if bulls somehow manage to regain momentum, the immediate resistance levels sit at $1.57 and $1.82. A breakout above these points could hint at a possible trend reversal and open the door for Pi to retest the $2 mark. However, given the current market conditions, that scenario appears unlikely in the near term.

What’s Next for Pi Network?

The Pi Network’s dramatic drop serves as a stark reminder of how quickly sentiment can shift in the crypto market. While the project has built a large following, the token’s value is currently being tested by a combination of technical weakness and sustained selling pressure.

For now, the best move for investors might be caution. With the market trending bearish and key indicators pointing south, Pi’s price could face further declines before any potential rebound. Traders and holders alike should monitor these support and resistance levels closely while keeping an eye on overall market sentiment.