Telegram Accepts Pi Network – Can This Reverse the Downtrend?

The integration of Pi Network with Telegram's Crypto Wallet has created a wave of expectation within the community, but currently, this integration is still not enough to reverse the declining trend of this cryptocurrency. Despite positive news about the collaboration, the price of Pi Network (PI) is still under strong selling pressure, remaining in the negative zone with the BBTrend index at -22.34, indicating that the downward momentum is still evident.

Although the Relative Strength Index (RSI) of Pi has recovered to 40.45 from oversold levels, it has not been able to break through the neutral threshold of 50 for the past two weeks. This indicates that buyer confidence remains weak. If the price of Pi does not show a positive trend soon, it is expected to continue declining towards key support levels, with support at $0.718 and the possibility of dropping lower.

While the integration with Telegram may facilitate Pi Network's recovery of momentum, current indicators suggest that selling pressure still prevails and the downtrend continues. A short-term recovery is possible but requires a breakout and a strong restoration of confidence from investors to reverse the current trend.