Pi Network (PI) Nears Record Low as Bearish Signals Intensify
Pi Network's native token PI is hovering near its all-time low of $0.54, a significant drop from its previous high near $3. The cryptocurrency is currently grappling with both technical and market pressures as investor enthusiasm declines.
A descending triangle pattern indicates sustained bearish momentum, with $0.55 acting as a key support level. Technical indicators show oversold conditions—RSI NEAR 35 and MFI below 20—but potential recovery faces challenges from broader market trends.
Trading volume has plummeted from $3 billion daily in February to under $100 million. Exchange reserves have increased by 30% since March, heightening liquidation risks. Notably, a whale has accumulated 290 million Pi tokens ($150 million) over three months, which could trigger volatility.
