Pi Network Price Breakdown as Demand Stays Weak
The price of Pi Network continued to fall as selling pressure increased, and demand did not increase. The majority of the token’s recent gains were erased when it fell to new monthly lows. The technical structure is rapidly deteriorating. As a bearish situation develops, market players are now keeping an eye on whether support can hold.
Pi Coin Demand Lags as Millions of Tokens Enter Circulation
Token unlocking continues to put pressure on Pi Coin. The market is still being diluted by daily increases in supply. Millions of additional tokens are going into circulation just this month. Even though the pace is anticipated to slow down later, unlock quantities will continue to be substantial over the course of the following year. Meanwhile, there has been a significant decline in trade activity. In comparison to Pi’s market value, volume is still low. This indicates low buyer participation. Interestingly, despite ecosystem updates, hackathon outcomes, and calculated investments in AI and gaming projects, demand has not increased.
Pi Network Flashes Breakdown Warning on Daily Chart
Technically speaking, Pi Network is displaying red flags. A distinct double-top formation is visible on the daily chart close to recent highs. The neckline support zone is currently being tested by the price. A verified breakdown would allow for additional declines. Momentum indications are still negative. Pi is trading below the Supertrend and important moving averages. The RSI is still sloping downward, indicating a decline in buying power. The existing structure supports a further fall in the immediate future unless buyers swiftly recapture important resistance levels.
For more up-to-date crypto news, you can follow Crypto Data Space.
