PI Coin Price Plummets: Will the Bearish Trend Continue? 🐻
Oh, the fleeting joys of crypto fortunes! 🤯 In the last seven days, the market has seen a paltry 5.61% growth, while Bitcoin and altcoins have risen by 5.2% and 4.85%, respectively. But poor PI, one of the most hyped cryptos of 2025, has taken a 26.3% nosedive. And if that’s not enough, the market has dropped by a whopping 9.4% in the last 24 hours alone! 😱 What’s behind this dismal trend? Let’s take a gander.
PI’s Price Continues to Plummet
Remember February 20, when PI’s price was a mere $0.1071? 🤪 Well, by February 26, it had skyrocketed to $3, a growth of 2,688.79%! But, as we all know, what goes up must come down. And come down it did, with a 70.40% drop since February 27. The current price? A mere shadow of its former self. 💔
In the last seven days, the Pi price has declined by 26.3%. In the last 24 hours alone, PI has dropped by over 9.4%. This indicates that sellers are in the driver’s seat, and buyers are nowhere to be found. 🚗
Why PI Is Facing Selling Pressure
It seems traders are fleeing the PI market like rats from a sinking ship. 🚢 Data shows that demand for PI has dropped consistently since February 27.
Certain technical and chart analysis reports also support this observation. 📊
PI Technical Analysis: OBV Hits an All-Time Low
The On-Balance Volume of PI currently stands at -1.06B. This technical indicator measures buying and selling pressure of a market. On February 26, PI’s OBV was around 566.88M. 📈
A drop from 566.88M to -1.06B indicates that the PI market has experienced a sharp increase in selling pressure during this period. 💔
PI Chart Pattern Analysis: Descending Parallel Channel Confirms the Bearish Trend
The PI market has been trading in a downward-sloping channel since its all-time high of $3. 📉
This pattern indicates a clear bearish trend of lower highs and lower lows. 📊
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Key Price Levels to Watch in the PI Market
If selling pressure continues, PI could even break below the downward-sloping channel, pulling the price to as low as $0.62. 🤯
If buyers regain control, the price could be pushed to a peak of $1.13. 🚀
In conclusion, PI’s price remains under pressure as technical indicators point to continued selling. Whether it rebounds or falls further depends on buying interest. Traders should watch for a breakout from the descending channel to determine the next major price move.
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FAQs
Why is PI Coin dropping in price?
PI Coin is facing heavy selling pressure due to declining demand, bearish technical indicators, and a lack of buyer interest since February 27.
Is PI Coin a good investment right now?
PI Coin is in a strong downtrend. Investors should watch for trend reversals and key breakout signals before considering an entry.
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2025-03-26 10:08