Pi Network is falling today: what traders are watching

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Pi Coin Slides 11.25% Today

Highlights

Pi Coin experienced heavy outflows as traders took profits after a sharp surge, casting doubt on its ability to sustain a recovery.
The rally was fueled by earlier whale accumulation and aggressive long positioning in Pi Coin futures, with trading volumes and futures data rising significantly.
Despite briefly improved sentiment, continued capital rotation presents persistent selling pressure and challenges further gains for Pi Coin.

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Pi Coin recently saw heavy outflows as traders took profits following a sharp surge, raising doubts about its ability to sustain a recovery and highlighting persistent selling pressure in the market. The rally was partly fueled by earlier whale accumulation and aggressive long positioning in the futures market, with trading volumes and futures data rising significantly during that period. Despite briefly improved market sentiment, ongoing capital rotation continues to challenge further gains.

Anton Kharitonov, expert at Traders Union, views Pi Coin’s recent action as indicative of lingering bearish sentiment despite earlier whale-driven gains. He notes that profit-taking and consistent capital outflows have undermined the recovery and put pressure on the coin’s ability to sustain upward moves. "Until significant demand or improved sentiment emerges, I see little scope for a durable rally in Pi Coin," Kharitonov cautions.

Viktoras Karapetjanc, expert at Traders Union, observes that Pi Coin's performance reflects broader market headwinds and a lack of stability following speculative spikes. He emphasizes the importance of macro influences, such as liquidity rotation and risk-off behavior, which continue to limit upside potential for PI. "A sustained recovery is unlikely unless market conditions shift decisively in favor of risk assets," states Karapetjanc.

Parshwa Turakhiya, analyst, is skeptical about Pi Coin’s outlook as strong selling signals dominate across technical indicators and volatility remains elevated. The analyst critiques the lack of lasting buyer support, warning that further losses are probable if support around $0.1561 fails. "Given the technical weakness and persistent outflows, I wouldn't bet on a turnaround for PI in the near term," Turakhiya remarks.

Bearish momentum sustained as oscillators diverge at technical boundaries

The nearest support sits at the Ichimoku Kijun level of $0.2287, while resistance is found at the MA-50 at $0.2674. The daily chart signals strong downward momentum with both MACD and ADX issuing 'Strong Sell' signals, confirming a bearish trend. Although RSI holds in 'Buy' territory without being overbought, Stoch RSI and CCI both signal overbought conditions, underscoring a divergence between oscillators and trend indicators. The BBP stands neutral, showing no clear buyer or seller dominance intraday, while the Awesome Oscillator confirms bearish momentum. Persistent pressure after the gap-down open has contributed to moderate-to-high volatility, with price action supporting the bearish daily momentum.

Previously it was noted that Pi Network experienced renewed development as new DeFi features, including a DEX and AMM pools, were launched on the testnet to support developer innovation. The asset continued to face steep market challenges, with an $18 billion decline in market value over the past six months, leading to heightened investor caution.

Source of Data: PI Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.