Pi Network Continues to Decline: BBTrend Hits Record Low, RSI Shows Slight Recovery

On Friday, Pi Network (PI) extended its downward trend, dropping another 9% and adding to its significant recent losses. This negative movement was fueled by comments from Justin Bons, who labeled Pi Network as a potential “scam,” sparking concerns among investors.

BBTrend Hits a Record Low
Pi Network’s BBTrend is now at -40.69, marking its lowest level ever and remaining in negative territory for five consecutive days. The BBTrend (Bollinger Band Trend) is an indicator that measures the strength and direction of a price trend based on volatility relative to Bollinger Bands.

A positive BBTrend value indicates bullish momentum.

A negative BBTrend value signals strong downward pressure.

With Pi Network’s BBTrend remaining deeply negative, the market is in a severe downtrend. When this indicator reaches extreme lows, it suggests that sellers are in control, potentially driving the price further down unless a strong reversal occurs.

RSI Recovers but Remains in Bearish Zone
The Relative Strength Index (RSI) for Pi Network has rebounded to 36.15 after hitting a low of 17.5 just hours earlier. The RSI is a momentum indicator that measures the speed and magnitude of price changes.

An RSI above 70 suggests overbought conditions.

An RSI below 30 indicates oversold conditions.

Pi Network’s RSI recovery above 36 suggests some buying pressure has returned, but overall price strength remains weak. If the RSI continues to rise, it could signal a potential trend reversal. However, if it fails to gain further momentum, PI may remain under selling pressure.

Will PI Drop Below $0.90?
Pi Network’s decline below $1 for the first time since February 22 has raised concerns about its future price movement. With Justin Bons’ strong criticism of the project’s legitimacy, market sentiment remains heavily affected.

If the downtrend continues, PI could test key support levels:

First support: $0.81

Next support: $0.62

On the other hand, if Pi Network manages to regain bullish momentum despite selling pressure, the price could aim for resistance levels:

First resistance: $1.23

Stronger resistance: $1.79

However, any potential recovery depends on whether investor confidence can be restored, especially as doubts about the project’s legitimacy continue to spread. Market sentiment remains fragile, and traders should exercise caution before making investment decisions.

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