PI Network on the Brink: Will It Fall to $1?

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Pi Network (PI), the darling of the crypto world, has seen its market cap plummet from a record $19.2 billion to a mere $9.2 billion in just a few short weeks. 😱 What’s behind this sudden collapse?

It seems that the bears have taken control, and PI has corrected by a whopping 22% over the past two weeks. And if that wasn’t enough, it’s down another 8% in the last 24 hours alone. Ouch! 🤕

Pi Network DMI Shows Sellers Are In Control

As the saying goes, “when the going gets tough, the tough get going… away from PI, that is.” 🏃‍♂️ The DMI chart shows PI’s ADX sitting at a paltry 18.3, a level it’s maintained since yesterday, signaling a weak trend. 🤔

But don’t be fooled, folks! The relatively flat ADX reading suggests that the current downtrend lacks strong momentum, but it’s still present, lurking in the shadows like a bear waiting to pounce. 🐻

The Average Directional Index (ADX) measures the strength of a trend, with values above 25 indicating a strong trend and values below 20 suggesting a weak or range-bound market. 📊

Currently, PI’s +DI has dropped to 16.1 from 23 two days ago, while the -DI has climbed to 26.2 from 19.6 yesterday. 🚨 This widening gap between the +DI and -DI lines highlights that sellers are regaining control, reinforcing the existing downtrend. 🚫

Unless the +DI starts to recover and the ADX rises above 20, PI may continue to face bearish pressure in the short term. So, buckle up, PI enthusiasts! 🚀

PI CMF Is Still Struggling In Negative Levels

PI’s CMF is currently at -0.14 and has remained in negative territory for the past two days, following a recent peak of 0.15 just four days ago. 🤦‍♂️ This shift marks a clear change in buying and selling dynamics, as the indicator is now at its lowest level in the past week. 😳

The Chaikin Money Flow (CMF) measures the flow of money into and out of an asset, combining price and volume to gauge buying or selling pressure. 💸

A CMF above 0 indicates accumulation (buying pressure), while a CMF below 0 suggests distribution (selling pressure). 📉 With PI’s CMF now at -0.14, this signals that sellers have gained control, adding weight to the ongoing downtrend. 🚫

The negative reading may point to continued weakness unless buying volume picks up in the short term. So, PI enthusiasts, don’t hold your breath! 😴

Will Pi Network Fall Below $1 Soon?

PI has come under pressure in recent days following criticism surrounding the launch of its.pi domains, adding to the negative sentiment that started with a major sell-off after its mainnet migration. 🚨

If this corrective trend continues, PI could test the support at $1.23, and a break below this level could push the price under $1.20 for the first time since February 22. 🚫

However, if PI price regains positive momentum, it could rebound and challenge the resistance at $1.57. A breakout above this level could open the way for further gains toward $1.82 and $1.98. 🚀

If bullish momentum accelerates, PI could potentially break above $2 for the first time since March 1, signaling a significant trend reversal. 🚀 But don’t count on it just yet! 😏

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2025-03-18 07:44