Analysis: Pi Network Token (PI) price under pressure, short-term trend weak​

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According to ChainCatcher, citing TokeNews, data shows that Pi Network (PI) price dropped 0.73% in 24 hours, currently trading at $0.43-0.44.

Over the past 24 hours, more than 2 million PI Tokens flowed into exchanges, increasing market supply by 0.25%. Technical indicators reveal that although MACD shows a bullish crossover, 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 fails to synchronize, it may further intensify selling pressure. The project team stated that they will accelerate mainnet and ecosystem application development to boost market confidence.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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