Pi Network Token Plunges as Short-Term Trend Remains Bearish
The Pi Network token has been experiencing a bearish short-term trend since last Tuesday, September 15th. Despite a brief bounce to $0.0948 on September 22nd, the price has fallen 9.37% in the past three days.
The technical updates from the Pi Network team aim to address specific KYC application corner cases and improve verification processes. However, these upgrades may not be enough to save PI crypto from a further price decline.
On the 1-day timeframe, the internal structure shift is bearish, with the price failing to close above the $0.10 psychological zone. The OBV has been relatively flat over the past two months, and the Awesome Oscillator took a bearish turn a week ago.
Traders are calling for a sell, with a target of $0.07595, which is the 23.6% extension level. A price drop below this level would signal a higher-timeframe bearish trend continuation.