Pi Coin Investors’ Support Remains Weak, Price To Suffer The Consequences
Pi Coin's price is stagnant due to weak investor support and bearish technical indicators, suggesting potential further decline.Summary
Pi Coin is experiencing stagnant price movement because investor support remains weak and the broader market sentiment is bearish. On-chain data shows minimal transactional volume, with the top 100 transactions in 24 hours involving less than $2.45 million in PI, indicating low engagement from major holders.
Technically, the Squeeze Momentum Indicator shows a forming squeeze with extending red bars, signaling strengthening bearish pressure that could lead to heightened volatility and a sharper price drop upon release. Currently, PI is consolidating between $0.234 and $0.217.
If bearish pressures intensify, the price may fall below $0.217. However, if investor support increases and the price breaks the $0.234 resistance level, it could signal a shift toward upward momentum, targeting $0.246.
(Source：BeInCrypto)