Pi Network (PI) is facing increasing bearish pressure as technical indicators and community sentiment turn negative. Despite a recent 23% gain, PI has dropped 44% in just four days, falling below $1 due to backlash over its $100 million fund launch. Indicators like the Ichimoku Cloud and BBTrend show weakening momentum, with no signs of a reversal in sight. The chart indicates ongoing weakness, with short-term momentum remaining bearish. The BBTrend indicator has sharply declined, suggesting a potential transition towards consolidation or reversal. The market sentiment is critical following the launch of the Pi Network Ventures fund, with many criticizing the project for unfulfilled promises. Technical indicators support a bearish outlook, with the possibility of further downside if key support levels are breached. Investors are advised to exercise caution and conduct thorough research before making any financial decisions. Read more AI-generated news on: https://app.chaingpt.org/news