PI Network Token Faces Bearish Pressure: Potential Drop to $0.40 Amid Market Weakness
PI Network is experiencing renewed downward pressure as key market indicators turn bearish and significant token unlocks approach. The token has dropped over 3% in the past 24 hours, currently trading at $0.5605, with technical charts showing a neutral-to-bearish trend.
Since May 21, Pi has been stuck in a bearish pattern characterized by lower highs, indicating seller dominance and weak buyer momentum. A further decline could see the token retest its all-time low of $0.40, while a reversal might push it toward $0.65.
The recent 11% crash on June 17, triggered by disappointing user response to .pi domain auction changes, highlights the token''s vulnerability. With no major updates expected by June 28, the path of least resistance appears to be downward.
