PI Faces Critical Support Test Amid Market Downturn
Pi Network's native token PI extended its losses, dropping another 2% as bearish momentum continued to dominate the charts, testing critical support levels NEAR $0.18. The altcoin now faces make-or-break technical conditions, with its weekly chart showing consecutive red candles—a pattern that often precedes new lows when support fails.
Trading volume remains subdued at $19.42 million, reflecting the broader fragility in altcoin markets. Liquidity-starved tokens like Pi prove particularly vulnerable during these risk-off periods, despite ongoing ecosystem development efforts from the project team.
Analysts are spotting potential reversal signals emerging. A bullish RSI divergence suggests weakening downward momentum, with some chartists identifying an embryonic double-bottom formation. "These patterns often mark turning points," noted CryptoPulse in a recent technical analysis, "but PI needs to hold current levels to confirm."
