Pi Network has hit new lows, stirring debate about whether the project still holds promise or is on a downward spiral. With its value sliding and confidence shaken, investors are left questioning if a turnaround is possible. In this piece, we examine Pi’s technical outlook and highlight other cryptocurrencies that could offer stronger upside amid current market uncertainty.
Pi Network Struggles: Can This Crypto Find a Path to Growth?"
Source: tradingview
Pi Network's price is stuck between 30 to 45 cents. It has seen better days, losing over 50% in the last six months. The nearest challenge is the resistance point at 53 cents. However, if it can push past this, a brighter milestone would be 68 cents. For growth, it needs an impressive rise of more than 50% from its current range. The price is below its moving averages, signaling a cautious mood. With its RSI under 50, the coin might be poised for some upward movements. Yet, for now, sellers are dominating, and a shift could take time. Keep watching the moving averages and resistance levels for hints of change.
Conclusion
Pi Network’s steep decline and struggle below key moving averages signal a tough road ahead, though oversold conditions hint at a possible rebound. For now, recovery depends on breaking critical resistance and restoring market confidence. As traders await signs of life from PI, other assets with stronger momentum may present better opportunities in the short term.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.