Pi Coin Holders Continue Selling as Pi Network Faces All-Time Low

Pi Coin has recently faced a lack of growth, leading to concerns that this altcoin might drop to its All-Time-Low (ATL).

Despite showing some recovery potential, market conditions and investor sentiment suggest that a downward trend may be imminent for Pi Coin.

Pi Coin Holders Leaving

Pi Coin's Chaikin Money Flow (CMF) index has sharply declined, with the index currently below the zero line, indicating that outflow is dominating inflow.

This decline shows that Pi Coin investors are actively withdrawing funds to prevent further losses. The CMF has touched monthly lows, indicating that sentiment towards Pi Coin is turning negative.

The outflow reveals a lack of confidence from investors, who are pulling Capital from Pi Coin amid growing concerns about the altcoin's future. If this trend continues, it could exacerbate Pi Coin's price decline, potentially leading to new lows.

Pi Coin's broader market momentum also appears weak. Its Relative Strength Index (RSI) is currently below the neutral level, indicating the altcoin's momentum is negative.

This is further confirmed by the fact that Pi Coin has decoupled from Bitcoin, which has shown positive momentum recently.

The negative RSI suggests market participants are not finding significant buying opportunities in Pi Coin at this time. With no clear upward trend, momentum remains weak and Pi Coin is likely to continue facing pressure.

Pi Network Price Needs a Miracle

Pi Coin's price is currently at $0.469, holding above the critical support level of $0.450. However, the altcoin is just 14.8% away from its All-Time-Low (ATL) of $0.400. If downward pressure continues, Pi Coin could easily fall below this support and return to ATL.

Under current market conditions, Pi Coin is likely to test this ATL and potentially break through it. The lack of buying interest and increasing outflow suggest the altcoin will struggle to maintain its current level. If Pi Coin slips below the $0.450 support, it could form a new low and lead to further price decline.

On the other hand, if Pi Coin finds new investor demand, it could bounce from the $0.450 support and break through the resistance at $0.493. This would open up opportunities to rise to $0.518 or higher, invalidating the negative outlook.

However, this scenario seems unlikely unless there is a significant change in market sentiment.