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Pi Network Faces Bearish Momentum Amid Weak Technicals
The Pi network (PI) has declined by 14%, with its market capitalization falling below $5 billion, and the token trading below $1 since May 14. Technical indicators reveal a bearish momentum, and PI struggles to surpass key resistance levels. The Ichimoku lines, BBTrend, and EMA all point to ongoing weakness. Without a prompt shift in trend, PI risks further decline before any recovery. The IC cloud remains under significant bearish pressure: the price stays below the red cloud, with Leading Span A below Leading Span B. The Tenkan-sen remains flat, oscillating near the Kijun-sen, indicating weak short-term dynamics and market indecision. The BBTrend at -2.21 suggests a moderate bearish stance—less extreme than before, but still lacking upward pressure. A successful breakout above resistance could open potential upside opportunities.
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AI Analysis
The recent decline of the Pi network (PI) by 14% highlights a significant bearish trend prevailing in the market. With a market capitalization dropping below $5 billion and the price remaining under $...
AI Recommendation
Given the current technical landscape, it is advisable to maintain a cautious stance regarding Pi Network (PI). The predominant bearish indicators and resistance hurdles imply that the potential for f...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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