New Monthly Low of $0.5376 as Token Falls 69% Since March Peak
The post New Monthly Low of $0.5376 as Token Falls 69% Since March Peak appeared on BitcoinEthereumNews.com.
TLDR Pi Network (PI) has hit a new monthly low of $0.5376, down 69% from its March peak Technical indicators show oversold conditions with RSI below 20, suggesting a potential short-term rebound Resistance is expected at the $0.6817-$0.6915 range with negative Chaikin Money Flow indicating continued selling pressure Pi Network was not included in Binance’s Vote to List, limiting growth potential without major exchange listings Community concerns include lack of transparency, slow KYC integration, and restricted access for third-party developers Pi Network’s cryptocurrency (PI) has experienced a sharp decline, reaching a new monthly low of $0.5376 on April 4. The digital asset has fallen approximately 69% since its March peak, leaving investors concerned about recovery prospects. The price drop comes amid broader market challenges and internal issues that continue to plague the project. Trading volume has increased to $478 million, representing a 76% rise compared to previous levels, suggesting some investors are buying during the downturn. Technical indicators offer mixed signals about PI’s short-term price movement. The Relative Strength Index (RSI) has dropped below 20 on hourly charts, placing the cryptocurrency in oversold territory. Historically, such conditions often precede temporary price rebounds. Technical Analysis Points to Possible Short-Term Bounce The oversold RSI reading below 20 typically signals that a short-term price rebound may follow. This indicator has been a reliable marker for temporary recoveries in PI’s price history. However, any rebound faces strong resistance near the $0.6817 to $0.6915 range. This zone previously served as support but has now transformed into resistance following the recent downturn. Pi Network Price on CoinGecko The Chaikin Money Flow (CMF) currently sits at -0.23, indicating negative money flow. This metric suggests selling pressure remains dominant, with more capital flowing out of the token than entering. On the hourly chart, the Ichimoku Cloud hovers well…
Filed under: News - @ April 4, 2025 10:26 am