#PI network could face more pressure — Here’s why
$PI has been under heavy selling pressure, and the current setup still leaves room for another downside move.
The price is moving inside a bearish flag, a pattern that usually appears after a sharp drop followed by a period of consolidation. Right now, PI is testing the lower part of this range. If that support breaks with strong volume, the next leg down could begin.
Momentum indicators are also giving warning signs. The Parabolic SAR dots remain above the price, showing that sellers are still controlling the short-term trend. Meanwhile, the MACD has turned bearish, with the MACD line moving below the signal line. If the histogram continues expanding on the negative side, downside momentum could strengthen.
Market sentiment is another concern. A deeply negative sentiment reading suggests traders are becoming increasingly cautious and sellers may continue dominating.
Looking ahead, PI could remain under pressure if support fails. A confirmed breakdown may push the price toward the next major support zone. However, if buyers defend the current level and reclaim the flag’s upper boundary, the bearish setup could weaken and a relief bounce may develop.
For now, PI remains at an important decision area. A support breakdown could bring another sell-off, while a strong recovery could invalidate the bearish structure....
#pinetworknews #PiMovement
$PI has been under heavy selling pressure, and the current setup still leaves room for another downside move.
The price is moving inside a bearish flag, a pattern that usually appears after a sharp drop followed by a period of consolidation. Right now, PI is testing the lower part of this range. If that support breaks with strong volume, the next leg down could begin.
Momentum indicators are also giving warning signs. The Parabolic SAR dots remain above the price, showing that sellers are still controlling the short-term trend. Meanwhile, the MACD has turned bearish, with the MACD line moving below the signal line. If the histogram continues expanding on the negative side, downside momentum could strengthen.
Market sentiment is another concern. A deeply negative sentiment reading suggests traders are becoming increasingly cautious and sellers may continue dominating.
Looking ahead, PI could remain under pressure if support fails. A confirmed breakdown may push the price toward the next major support zone. However, if buyers defend the current level and reclaim the flag’s upper boundary, the bearish setup could weaken and a relief bounce may develop.
For now, PI remains at an important decision area. A support breakdown could bring another sell-off, while a strong recovery could invalidate the bearish structure....
#pinetworknews #PiMovement
