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Pi Network Analysis: Can PI Survive the Bearish Cloud?
Pi Network (PI) Price – The price of Pi Network (PI) has declined by 14% over the past 30 days, falling below the critical $1 level since May 14. As of now, PI is trading under $1 with its market capitalization shrinking below $5 billion. Despite minor consolidation, technical indicators suggest continued bearish momentum, with no clear bullish reversal in sight.
Ichimoku Cloud Signals Persistent Bearish Momentum
PI remains trapped below the Ichimoku Cloud, confirming strong downward pressure. The Leading Span A (green) continues to trend below Leading Span B (red), forming a classic bearish configuration. The wide and descending cloud indicates that any potential price recovery will face significant resistance in the near term. Furthermore, the Tenkan-sen and Kijun-sen lines are flat and close together, reflecting weak short-term momentum and growing market indecision.
BBTrend Indicator Reflects Lingering Weakness
The BBTrend (Bollinger Band Trend) indicator sits at -2.21, showing mildly bearish conditions. Although this is an improvement from the -18.7 peak seen last week, PI has remained in negative territory for 14 consecutive days. The stabilization hints at downtrend exhaustion, but the token still lacks bullish confirmation. For sentiment to shift, PI must move into positive BBTrend territory and maintain upward momentum.
Breakout Above EMA Could Trigger 37% Rally
All EMA (Exponential Moving Averages) remain aligned in a bearish setup, with short-term EMAs trading below long-term averages. This structure supports continued downside risk unless a breakout occurs. A successful push above key resistance levels could unlock a potential 37% rally, but until then, caution prevails as PI hovers near a major support threshold.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
