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Pi Network’s Brief Rally Highlights Persistent Bearish Trends
Pi Network’s Brief Rally Highlights Persistent Bearish Trends
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[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
Pi Network's recent price surge was short-lived, collapsing into what analysts identify as a classic dead cat bounce. The failed recovery highlights increasing sell pressure as the token approaches all-time lows.
TradingView data shows a stark Balance of Power reading of -0.84 for PI/USD, indicating overwhelming seller dominance. This technical pattern often precedes extended downtrends when not supported by fundamental catalysts.
Market structure suggests trapped longs from the false breakout may now drive additional downside. The BoP indicator's persistent negative territory points to weak demand absorption, with algorithmic traders likely amplifying the downward momentum.
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