Pi Network Faces Potential Sharp Decline After Support Break

The latest price movement of Pi Network exhibits a pronounced downward trend with the potential for ongoing losses. Investors are showing caution, leading to increased outflows and weakening market sentiment. The Chaikin Money Flow (CMF) indicator reflects this trend: it remains below zero, signaling a dominance of selling volume over buying pressure. Currently, the Pi Network is experiencing compression in the momentum indicator, which is forming a bearish impulse and potentially causing a sharp decline in price due to impending volatility release. This pattern, combined with a breach of the critical support level at $0.71, suggests further declines toward the next support levels at $0.61 and possibly lower, down to $0.57. Nevertheless, a recovery could initiate if the price retraces at the $0.71 support zone.