Trusted

Pi Network Sell-Off Continues as PI Hits 7-Day Low

2 mins
Updated by Mohammad Shahid
Join our Trading Community on Telegram

In Brief

  • Pi Network’s PI token fell 22% over the past week, hitting a 7-day low of $0.61 amid growing bearish market sentiment.
  • Indicators show mounting sell pressure: PI’s BBTrend stays negative at -4.52, signaling sustained selling near the lower Bollinger Band.
  • The declining Smart Money Index reveals that institutional investors are exiting, raising risks of further price drops below $0.55 support.
  • promo

Pi Network’s native token, PI, has witnessed a 22% price plunge over the past week, extending its downtrend to trade at a seven-day low of $ 0.61 at press time. 

The double-digit decline reflects growing bearish sentiment around the token and coincides with a broader contraction in the crypto market.

PI’s Outlook Worsens as Bearish Trend Deepens

The global cryptocurrency market capitalization has dropped by over 5% in the past seven days, shedding over $170 billion. The widespread pullback has shaken investor confidence, triggering fresh PI selloffs over the past few days.

The strengthening sell-side pressure is evident in PI’s BBTrend indicator, which has continued to print red histogram bars, a clear signal of mounting bearish momentum. As of this writing, the indicator sits at -4.52. 

PI BB Trend.
PI BB Trend. Source: TradingView

The BBTrend measures the strength and direction of a trend based on the expansion and contraction of Bollinger Bands. When BBTrend values are positive, it typically signals a strong uptrend, while negative values indicate increasing bearish momentum. 

PI’s persistent negative BBTrend suggests that its price consistently closes near the lower Bollinger Band. This trend indicates sustained selling activity and hints at the potential for a sustained price decline. 

Further, PI’s Smart Money Index (SMI) has fallen over the past few days, signaling an exit of “smart money” or institutional-grade investors. This is often considered a leading indicator of deeper price declines, as it suggests reduced confidence from these key investors.

PI SMI.
PI SMI. Source: TradingView

An asset’s SMI tracks the activity of institutional investors by analyzing market behavior during the first and last hours of trading. When it rises, these investors are increasing their buying activity, indicating the likelihood of an extended rally. 

Conversely, as with PI, when it falls, it indicates that institutional demand for the asset is weakening, signalling potential for further downside.

PI Teeters Near Key Support—Will Bulls Hold the Line at $0.55?

PI’s climbing selling activity suggests that the token could be vulnerable to further losses in the short term. If selloffs continue, the altcoin risks breaking below the critical support formed at $0.55.

If the bulls fail to defend this support floor, PI could revisit its all-time low of $0.40. 

PI Price Analysis
PI Price Analysis. Source: TradingView

However, a spike in new demand for the token could prevent this from happening. If the PI Network token buying pressure spikes, it could push its price to $0.86. 

Best crypto platforms in Europe
eToro eToro Explore
YouHodler YouHodler Explore
Arkham Arkham Explore
Wirex Wirex Explore
Best crypto platforms in Europe
eToro eToro Explore
YouHodler YouHodler Explore
Arkham Arkham Explore
Wirex Wirex Explore
Best crypto platforms in Europe
eToro eToro
YouHodler YouHodler
Arkham Arkham
Wirex Wirex
NEXO NEXO

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Untitled-1.png
Abiodun Oladokun
Abiodun Oladokun is a Technical and On-Chain Analyst at BeInCrypto, where he specializes in market reports on cryptocurrencies from diverse sectors, including decentralized finance (DeFi), real-world assets (RWA), artificial intelligence (AI), decentralized physical infrastructure networks (DePIN), Layer 2s, and meme coins. Previously, he conducted market analysis and technical assessments of various altcoins at AMBCrypto, utilizing on-chain analytics platforms like Messari, Santiment...
READ FULL BIO
Sponsored
Sponsored