Pi Network Plummets to New All-Time Low Amid Market Struggles
The Pi Network (PI) has taken a significant hit, experiencing a sharp downtrend that has left many investors concerned. The digital asset has struggled to gain momentum, and market conditions continue to work against its recovery. As bearish sentiment prevails, PI’s price has now slipped below $0.61, reaching a new all-time low.
Persistent Downtrend Raises Investor Concerns
Pi Network has been unable to shake off its negative price trajectory, with indicators suggesting that further declines may be imminent. The Chaikin Money Flow (CMF), a key measure of market liquidity, remains deeply in negative territory. This signals a steady outflow of capital from the network, reinforcing investor fears about PI’s ability to sustain its market position.
Despite early optimism, Pi Network has failed to maintain interest, leading to a wave of sell-offs. With sellers dominating the market, the altcoin has struggled to find stable support. Additionally, the Ichimoku Cloud, a widely used technical indicator, remains positioned well above the price candlesticks. This suggests that bearish momentum is intensifying, reducing the chances of a swift recovery.
PI Price Reaches Historic Low
As of now, Pi Network is trading at $0.61, having dipped to an all-time low of $0.60 after a steep 14% decline in the last 24 hours. With continuous outflows and weak market sentiment, the altcoin remains under significant pressure.
Technical indicators suggest that PI’s downward trajectory may persist. If the current trend continues, the price could drop further, potentially testing the $0.50 mark in the near future. A shift in sentiment or strong bullish catalyst would be necessary for any substantial recovery. However, if PI manages to hold support at $0.60, a rebound towards $0.87 could be possible, offering some hope for investors looking for a turnaround.
Outlook: More Downside Ahead?
Market conditions remain unfavorable, and Pi Network is struggling to attract buyers amid growing uncertainty. Unless a fundamental change occurs, the altcoin may face continued declines. While a recovery is possible, it would require a significant improvement in market sentiment and increased investor confidence.
For now, traders remain cautious, closely watching key support and resistance levels. As the market unfolds, PI’s next moves will determine whether it can regain stability or continue its downward slide.