From High Hopes to Gloom: The PI Network’s Tumultuous Journey

Ah, PI Network, that capricious little sprite of a token, once basking in the sun, now showing signs of fading momentum. Just two sessions ago, it broke past a stubborn resistance at $0.3587, only to tumble back down like a deer startled by headlights on a quiet road.

This unexpected plummet below its previous glory has ignited a firestorm of anxiety among its loyal followers. With bears licking their chops in anticipation, it seems our brave little token is gearing up for a dance with its all-time low once more. 🎢🐻

Sellers Reclaim Their Throne

As BeInCrypto’s latest whispers reveal, PI basked in the glow of a victorious close above $0.3587 last Friday, breaking free from the shackles of a sideways trend that had rendered its price a solemn shadow since mid-August.

Yet, as all good stories go, this one took a dramatic turn. The jubilant celebration was short-lived; by Saturday’s dusk, our valiant token was back below the resistance line, bowing to the increasing pressure from sellers who, it seems, have taken the script into their hands once more.

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The daily chart, a fickle friend, now shows bleak hues as selloffs gather strength. The specter of sideways trends looms ever closer, hinting that PI may continue its downward spiral into uncertainty.

Our trusty Elder-Ray Index, a wise old sage of the crypto realm, has spoken. After a brief flirtation with optimism, it has turned sour, revealing that the bears are back on the prowl, flexing their claws and outweighing the bulls in a battle as old as time itself.

This fresh narrative implies that the bulls, once robust, are now resembling weary lambs, struggling to regain their footing. If buying momentum doesn’t come knocking soon, PI could be stuck on a merry-go-round of despair.

Even our beloved Balance of Power (BoP) indicator is succumbing to the doom and gloom, reading a disheartened -0.10. It’s a sad day when even the numbers reflect more bears than bulls! 😔

In the grand scheme of things, a negative BoP means that sellers are strutting around like they own the place, and buying enthusiasm is sinking faster than last week’s leftovers. This gloomy scenario raises the specter of another stagnation, or worse, a descent towards those darker support levels. 📉

Will PI Plunge Back to its Record Low?

If the selling spree persists, PI could find itself languishing in a miserable limbo between the resistance at $0.3587 and support at $0.3391. Should the bearish tide swell, the altcoin might just take the plunge and revisit that infamous all-time low of $0.3220-cue the dramatic music! 🎶

But don’t count our little token out just yet! If a wave of fresh demand crashes onto the shores of the market, PI could surge back above $0.3587, aiming for the elusive $0.3903. Who doesn’t love a comeback story? 🚀

2025-09-15 20:17

Sellers Reclaim Their Throne

Will PI Plunge Back to its Record Low?

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