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Pi Network Struggles as Bears Tighten Their Grip
Pi Network (PI) continues to face strong bearish pressure, dropping another 2% today to around $0.2630+. This decline erases much of the recent recovery and leaves PI squeezed near the critical support zone of $0.26–$0.27, a level that has so far prevented deeper losses.
📉 Market Sentiment:
The broader crypto sector is also under pressure, with the Fear & Greed Index dropping to 41 from 51 last week, approaching risk territory. Further declines below 40 could accelerate selling on speculative tokens like PI.
📊 Technical Outlook:
RSI remains oversold near 26–27, indicating persistent weakness.
The MACD remains negative, with an extending red histogram bar—evidence that bearish momentum is strengthening.
A drop below $0.26 may expose the next support near $0.242, while buyers need a strong rebound above the 50-day EMA ($0.35) to indicate a potential trend reversal.
⚠️ Outlook:
For now, sellers remain in control. Unless sentiment in the broader crypto market improves, the immediate outlook for PI leans towards further downside risk.
#PI
#Fedofficialsspeakup