Pi Network plunges 17% below $1, can a $100 million fund save the market?

Pi Network launches a $100 million startup fund, but the effects are polar opposites

The Pi Foundation spends $100 million to create a startup investment pool, targeting the AI and fintech sectors to help PI tokens transition into real-world applications. The plan was supposed to ignite market enthusiasm, but the reality is that PI plummeted 17% within 24 hours, directly falling below the $1 threshold.

Technical indicators flashing 'sell' signals, market enthusiasm cools

Recently, although PI saw a strong upward trend, the technical indicators show signs of fatigue. The Average Directional Index (ADX) dropped sharply from 72 to 35 within two days, buying pressure has decreased significantly, and bearish forces are quietly rising. The Chaikin Money Flow indicator plunged from positive to negative territory, indicating rapid capital withdrawal and immense profit-taking pressure.

Death cross approaching, PI may continue to decline

Short-term moving averages are forming a death cross warning; if it falls below the key support of $0.90, PI could continue to dip to $0.78 or even $0.63, with selling pressure arriving like a domino effect.

There is still hope for a rebound, key resistance awaits breakthrough

However, as long as the bulls reignite their fighting spirit, breaking through the $1.23 level is not impossible, which could open up an upward channel towards $1.67 and $1.79. The market is ever-changing, and investors need to be cautious.

Summary: A million-dollar fund struggles to reverse the downward trend, the outlook for Pi Network darkens, who will take the lead next?