Crypto Market Recovery Loses Momentum as Investors Take Profits
The cryptocurrency market's recovery is losing momentum as investors take profits following last week's double-digit gains. According to CoinGlass data, approximately $373 million in leveraged positions was liquidated over the past 24 hours, with long positions accounting for $310 million of that total.
Pi Network remains above a critical support level at $0.0853, maintaining a neutral short-term outlook. The token's momentum indicators show signs of stabilization but do not yet confirm a strong bullish trend.
A break above the 50% Fibonacci retracement level at $0.1022 could strengthen the bullish outlook and extend the advance toward the 78.6% Fibonacci retracement at $0.1204. However, a confirmed daily close below the $0.0853 support level could invalidate PI's near-term recovery outlook and increase selling pressure.