Pi Network Drops Below Key Levels Amid Selling Pressure
Key Takeaways
Pi Network (PI) is under pressure. The token has lost value in recent days, and market sentiment remains negative. Technical indicators suggest a continued downward trend. The psychological level of 1 US dollar may play a role in the short term, but a sustainable hold at this level seems unlikely.
Downtrend Continues
PI’s price movement shows a clear downward trend. At the beginning of the month, the token failed to break the 2-dollar mark, followed by a lower high at 1.87 dollars and a lower low at 1.23 dollars. Shortly before press time, the price fell below this last low, confirming the negative market structure.
A look at February’s price movements reveals support zones at 0.93 dollars and 0.65 dollars. The 1-dollar mark could act as psychological support in the short term, but a sustainable hold remains questionable.
Technical Indicators Show Weakness
Several technical indicators point to a continuation of the downtrend:
– The On-Balance Volume (OBV) indicator is reaching new lows, indicating continued selling pressure.
– The Awesome Oscillator shows strong negative momentum.
– Trading volume has increased, suggesting an attempt to stop the price decline – so far without success.
Negative Market Sentiment Increases Selling Pressure
Another important factor is the funding rate in the derivatives market. It has remained negative for the past five days. This means that short positions dominate, and sellers are willing to pay fees to bet on further price declines.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 2 minutes
-
Viking Slots: Best Norse-Themed Slot Games
Reading time: ~ 2 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 2 minutes
-
Online Casinos in Russia
Reading time: ~ 2 minutes
-
New Wave Infotech Ltd. Casinos
Reading time: ~ 2 minutes
These market conditions could lead to a short-term recovery as liquidity is sought for short positions. However, the overall trend remains bearish, as demand for PI is low.
Our Assessment
Technical analysis and market sentiment suggest that PI is unlikely to stabilize at 1 dollar. As long as selling pressure persists and no new buying momentum emerges, the risk of further losses remains high. Investors should exercise caution and closely monitor price developments.
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency