While the euphoria is increasingly fading on the Crypto market, Pi Network, already controversial, has just bordered on a new historic low. Officially, the global context is involved. However, the technical signals draw an even darker table: absence of rebound, weakness of the volume, indicators in the red. Doubt settles. Is Pi Network losing control of its trajectory?
In short
- The Network Pi token Pi has just bordered on a new historic lower, accentuating doubts about its market dynamics.
- Several technical indicators (ATR, EMA 20) point to a possible break in the support and a risk of new fall.
- The analysis reveals a marked weakness of volatility and an absence of clear bullish recovery.
- The decline in the participation of the traders and the absence of influx of capital aggravates the situation.
A downward dynamic confirmed by the indicators
Since September 22, the Token PI has stagnated after reaching a historic low at $ 0.1842, despite the launch of the V23 update. It now oscillates between a support at $ 0.2565 and a resistance at $ 0.2,917, without being able to initiate the slightest significant rebound.
This situation illustrates the incapacity of the market to generate a rebound dynamic, despite a historically low level.
Several technical indicators Strengthen this downward scenario:
- Average True Range (ATR) decreased: since September 23, this key volatility indicator falls continuously, reaching 0.0234. This trend reflects a progressive weakening of the momentum.
- The crypto pi remains under its exponential mobile average at 20 days (EMA 20): located at $ 0.3185, this dynamic average acts as technical resistance. This configuration confirms this lower perspective.
- No bullish resumption detected: the inability of the price to be crossed the resistance evokes a takeover by the sellers, and lets fear an imminent break of the support at $ 0.2565.
These signals converge on a scenario where the crypto course could break its current support and head again to its historic floor. The market gives few positive signs, and technical analysis currently shows no clear bullish construction.
A participation in free fall and the absence of a catalyst
Beyond the on-chain data relating to the price, it is the behavioral indicators of market players who add to concern. Indeed, there is a significant decrease in the participation of traders on the Spot market, reflecting a growing disinterest.
This drop reveals the gradual disengagement of traders on the Spot market and the absence of influx of new capital to the Token. It is therefore not only a fleeting technical weakness, but a manifest withdrawal of liquidity and confidence in the assets.
This withdrawal is also expressed by the absence of a visible catalyst capable of reverse the trend. As long as PI Network does not cross the threshold of $ 0.2,919, the probability of a reversal remains low.
Overcoming this level could mark the start of an attempt to take over, propelling the price of the PI over its mobile average over 20 days. However, in the absence of a boost of bullish feeling, the most likely scenario remains that of a return from the price to the lowest historic, even an extension of the fall if the current support gives way.
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