Pi Network Price Plummets: New ATL Imminent?

Pi Network Price Plunges

Pi Network is facing significant challenges, with its price showing a persistent downtrend and potentially heading for a new all-time low (ATL). Investor skepticism is growing, contributing to a prolonged bearish market.

Negative Market Indicators

Several key indicators point to a worsening situation for Pi Network:

• Average Directional Index (ADX): Recently crossed the 25.0 threshold, signaling strengthening bearish momentum. This suggests a difficult short-term recovery.
• Chaikin Money Flow (CMF): Remains deeply negative, indicating continued net capital outflow. While a slight uptick is observed, investor reluctance to buy persists.

These indicators, coupled with the recent 12.8% price drop in the past 24 hours, paint a grim picture. The failure to reclaim the $0.87 support level further underscores the lack of investor confidence.

Current Price and Potential ATL

Currently trading at $0.70, Pi Network is dangerously close to its ATL of $0.62. A continued bearish trend could easily push the price below this level, potentially dropping to $0.50 or lower.

Potential for Recovery?

A reversal of the current bearish trend requires a significant shift in investor sentiment. Increased buying pressure could push the price back above $0.87, and surpassing $1.00 would signal a potential recovery. However, this scenario depends heavily on renewed investor confidence.

Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Market conditions are volatile, and individual research is crucial before making any investment decisions. Codeum offers blockchain security services including smart contract audits and tokenomics consulting to help mitigate risks in the crypto space. For secure development and deployment of blockchain projects, contact us today.