Bearish Momentum Grows — Can Pi Network Hold the $0.43 Line?
Pi Network (PI) has dipped below the key $0.43 support level as the 4-hour chart shows a continuation of lower highs. Despite the decline, an anonymous wallet — labeled “GASWBD...J2AODM” — has accumulated 1.4 million PI tokens from OKX, boosting confidence in the project.
However, technical indicators point to increasing downside risk. On Tuesday, PI slipped another 0.61% after failing to hold higher levels on Monday. The 100-day EMA continues to act as strong resistance, halting any bullish momentum.
Key technical signals:
Support Test: $0.43 has been a critical level since July 15; a break below could trigger a move to $0.42 or even the psychological $0.40 mark.
RSI: Drops to 42, reflecting waning buying interest.
MACD: Nearing a bearish crossover below the signal line, indicating a potential trend reversal.
Still, a breakout above the 200-day EMA could shift sentiment and open the door toward the $0.50 mark.
