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The Pi Network is currently stuck in a consolidation phase, with stagnant price movement despite signs of increasing optimism among investors indicated by the Chaikin Money Flow (CMF).
Broader market conditions continue to pose challenges, as the Moving Average Convergence Divergence (MACD) indicator points to bearish momentum.
The Pi Network is stable at $0.649, but a breakout could occur if the price exceeds $0.71. If it drops below $0.57, further declines towards $0.51 could invalidate the bullish outlook.
The Pi Network has faced a bearish trend followed by a phase of consolidation that has prevented the altcoin from making any meaningful gains.
While consolidation often precedes a breakout, pressures from broader market signals may complicate this for the Pi Network in the short term.
Pi Network investors are trying to:
The Chaikin Money Flow (CMF) indicator shows signs of rising, indicating inflows to the Pi Network after nearly a week of low investor activity. The CMF sits above the zero line, suggesting that investors have begun to regain confidence in the potential for recovery.
This shift in sentiment may indicate that holders are optimistic about potential gains and are taking advantage of the current low prices. However, while the CMF reflects some optimism, it does not guarantee a breakout. The rise may be short-lived if market conditions do not align.