Pi Network Price Prediction After 14% Drop: What’s Next?

The recent decline in the price of PI has drawn attention as it has dropped by 14% over the last 24 hours, reflecting a troubling bearish trend. This downward momentum began earlier in March and shows no signs of abating. As the altcoin continues its descent, understanding the factors at play is critical for both traders and investors.

Understanding the Bearish Trend

Since the start of March, PI has remained on a downward slope, trading within a descending parallel channel. This pattern indicates a persistent bearish environment, characterized by lower highs and lows. The movement suggests that sellers are aggressively pushing down prices, while buyers struggle to establish any upward price levels.

Technical Indicators Signal Selling Pressure

Moreover, the Super Trend Indicator has recently issued a sell signal, reaffirming the bearish prospects for PI. This indicator, which is used to assess price trends, shows dynamic resistance at $2.23, indicating that PI has not yet found the support needed to halt the decline.

Future Price Projections

The outlook for PI remains grim as selling pressure intensifies. Should the downtrend continue, we could witness a decline towards the $1.05 mark, indicating that bears have tightened their grip significantly. A drop below this support would likely lead to a further decrease, possibly threatening levels as low as $0.87.

On the other hand, if bullish momentum begins to build, there is potential for PI to reverse its current trend, possibly climbing to **$1.34**. The dynamics of the market are crucial as investors and traders keep a keen eye on how the situation unfolds.