Pi Network (PI) has recently entered into a harsh decline. In particular, the fact that Binance did not include Pi in the new voting -based listing campaign has seriously shaken its investor confidence. This development, currently weakened market conditions, the Pi price fell to the level of $ 1. Investors began to abandon their positions quickly in the face of this decline.

Investors move away from Pi Network

Chaikin Money Flow (CMF) data, which has decreased to the lowest level since the beginning of the project, clearly shows that investors have lost their belief in the project. The fact that the CMF falls into negative regions reveals that the money from Pi is much more than the entrance. This means deepening the loss of confidence in Altcoine.

These outlets, which come with insecurity, increase the pressure on the PI price further. As investors lose their belief in the project, the downward pressure on the price is growing. The continuation of the existing trend in this way can bring more loss for Pi.

RSI gave a return signal but it wasn’t enough

RSI (Relative Power Index), which measures the power of price movements, experienced a recovery after falling into an extreme sale zone at the beginning of the week. Although this is usually considered as a return signal, no significant recovery has yet to be observed in the Pi price.

In other words, despite the positive signals of RSI, Pi is still felt intense market pressure. In order for the price to turn up the direction, not only technical indicators, but also investor confidence must be re -provided.

Will Pi Network be able to hold $ 1?

Currently, PI Network is trying to hold on a $ 1 level. However, Altcoin, which has decreased by 44 %in the last 10 days, may have difficulty maintaining this support. Continuous sales pressure and investor outputs raise the support level of $ 0.92.

If PI loses this level, the next support point stands out as $ 0.76. This may lead to further deepening of the last decline. For this reason, it is of great importance that investors follow these critical levels carefully.

If 1.19 dollars are exceeded, hopes can flourish again

Despite all the negativities, there is still a possibility of recovery for Pi Network. If the price can support $ 1.19 again, this may be the beginning of recovery. In this case, it becomes possible to rise up to $ 1.43 before the price.

However, in order to realize this scenario, investor interest should be revived and sales pressure will decrease. Otherwise, a challenging process for Pi Network may deepen.