Analysis: Pi Network Token (PI) Faces Price Pressure and Short-Term Weakness
According to ChainCatcher, citing TokeNews, data shows that the price of Pi Network (PI) has dropped 0.73% in the past 24 hours, currently trading at $0.43–$0.44.
Over the past 24 hours, more than 2 million PI tokens have flowed into exchanges, increasing market supply by 0.25%. Technical indicators show that although the MACD has formed a bullish crossover, the RSI remains in the oversold zone at 35.85, indicating significant short-term downward pressure.
This month, Pi Network plans to unlock 233 million tokens. If market demand does not rise accordingly, selling pressure may intensify further. The project team stated that they will accelerate mainnet and ecosystem application development to boost market confidence.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Waiting for the final dip? Morgan Stanley: This round of correction may end with quality stocks catching up with declines
Morgan Stanley strategist Michael Wilson pointed out that the quality factor has risen by about 6% since mid-August, reaching a new 52-week high, while the equal-weighted S&P 500 index has fallen by nearly 4% over the same period. Currently, financial conditions have tightened to their highest levels since 2022, and the outperformance of large-cap stocks is masking a significant pullback in other individual stocks. He stated that medium-term corrections in the stock market often end with a catch-down in high-quality stocks.
Crypto prices
More
