rede pi, preço da rede pi, pi2day

Readings from the daily chart of Pi Network’s coin PI/USD show that the altcoin briefly consolidated between July 1 and 4, facing resistance at $0.50 and support at $0.47.

However, selling forces gained momentum on Friday (4), pushing the token below its short-lived support range. Since then, PI has been falling, increasing the likelihood of a retest of its all-time low at $0.40.

The PI Accumulation/Distribution (A/D) Line has declined over the past two weeks, signaling a significant drop in buying volume and investor confidence. At the time of this analysis, the indicator stands at -300.73 million, down 82% since June 25.

PI A/D Line.PI A/D Line. Font: TradingView

Selling pressure dominates Pi Network

The A/D line measures the buying and selling pressure of an asset by analyzing its price movements and trading volume. When it rises, it indicates strong accumulation, meaning buyers are driving demand and pushing prices higher.

On the other hand, as seen with PI, a falling A/D line suggests that selling pressure outweighs buying interest. This indicates that traders are dumping PI rather than accumulating it, a sign of weakening confidence in the token’s near-term recovery prospects.

Furthermore, PI’s Directional Movement Index (DMI) setup is in line with this bearish narrative. The token’s positive directional index (+DI, blue) is currently below the negative directional index (-DI, orange), showing a strengthening negative trend.

PI DMI.PI DMI. Source: TradingView

The DMI indicator measures the strength of an asset's price trend. It consists of two lines: the +DI, which represents upward price movement, and the -DI, ​​which means downward price movement.

The market trend is bullish when the +DI is above the -DI. This means that buying pressure is dominant, and the asset is in an uptrend.

On the other hand, when the +DI is below the -DI, ​​the downward price movement is strong. This is a bearish signal, indicating that PI sellers have more control over the market than buyers.

Vendors dominate the Pi Network market

At press time, PI is trading at $0.44, with its next major support level at its all-time low of $0.40. With sellers maintaining firm control and building bearish momentum, a revisit to this low is possible.

PI Price AnalysisPI Price Analysis. Source: TradingView

However, a resurgence in buyer demand could invalidate this bearish outlook. In such a scenario, the PI coin price could rebound, break the new resistance at $0.47 and move higher towards $0.50.

The article Will Pi Network Drop to All-Time Low This Week? appeared first on BeInCrypto.