Pi Network continues to face challenges in the market as its price remains in a downward trend. Despite previous optimism, investors are increasingly skeptical about this coin, contributing to the prolonged decline.

The uncertainty about its value suggests that Pi Network may be heading towards a new All-Time-Low (ATL).

Pi Network Witnesses Capital Outflow

The ADX (Average Directional Index) recently crossed the 25.0 threshold, indicating that the current downward trend is gaining momentum. This is a worrying signal for Pi Network's price, as the increasing downward trend suggests it will become increasingly difficult for this cryptocurrency to recover in the short term. With ADX pointing to prolonged negative market forces, pressure on Pi Network's price is likely to increase as the token approaches its previous ATL.

The growing strength of the downward trend is reinforced by investor uncertainty, with many questioning the token's long-term viability. This uncertainty could lead to further selling and lack of new buying support, making it harder for Pi Network to find a solid foundation for recovery.

Pi Network's macro momentum also paints a gloomy picture for this altcoin. The Chaikin Money Flow (CMF) index, which measures the volume of money flowing in and out of a coin, is deeply negative. Despite a slight increase, the index remains in the negative zone, signaling that investors are still hesitant to buy this token.

The slight increase in CMF reflects a small capital flow, but this may be temporary if skepticism continues. With investors hesitating and capital outflow persisting, Pi Network's price is facing significant challenges. The current trend suggests that further capital outflow may occur if the coin reaches a new ATL.

PI Price Approaches New Low

Currently, Pi Network is trading at $0.70, just above its ATL of $0.62. The altcoin has dropped 12.8% in the past 24 hours after failing to regain the $0.87 support level. The failure to reclaim previous support levels indicates continued investor lack of confidence.

If the downward trend continues, Pi Network is likely to fall below the $0.62 support level, potentially dropping to $0.50. A new ATL could be established as market sentiment continues to heavily impact the price, leading to further losses for current investors.

The only way to reverse the price decline is for investors to change their approach and take advantage of the low price. Increased capital flow could push Pi Network's price back above $0.87, and if it surpasses $1.00, it will regain important support and signal a potential recovery for this altcoin.