Pi Coin has been facing a critical challenge recently, with its prices shaping. Investors are increasingly concerned, and this skepticism has led to a rise in leaks.
Altcoin is currently at risk to an all-time low (ATL), with many holders reluctant to hold more.
PI coin holder is retreating
Market sentiment around Pi Coin has been weakening considerably in recent weeks. Weighted sentiment, which measures investor optimism, fell sharply, falling to a three-month low. This shows that PI Coin investors are increasingly skeptical of the future performance of the coin.
As emotions get worse, investors can cut their position and have a negative impact on Pi Coin prices.
With fewer people willing to hold the token, the market may have struggled to maintain momentum, making it difficult for PI coins to regain strength. These factors contribute to ongoing downtrends and raise questions about the token’s ability to reverse courses in the near future.
The overall macro momentum of PI coins is also facing headwinds. Chaikin Money Flow (CMF), which tracks the flow of money in and out of assets, has dropped to a three-month low. This indicates that PI coins have experienced a significant outflow of capital, and more money leaves the coin than they enter.
The ongoing outflow, combined with weak market sentiment, suggests that PI coins are losing investor confidence. Without new influxes or emotional changes, cryptocurrencies may have a hard time regaining their previous levels of activity.
Can Pi Price bounce back?
Pi Coin is currently trading at $0.44, surpassing the ATL by $0.40. Altcoin has been stuck in downtrends for the past two months, and the lack of support could lead to further declines. As investors’ sentiment continues to erode, PI Coin can quickly test their ATL, potentially with further losses.
With bearish emotions and technical indicators pointing to downtrends, Pi Coin may struggle to find support in the near future. If Altcoin loses support at $0.40, it could drop to $0.36 on the ATL. This marks a huge loss for holders who have seen their investment lose value over time.
However, if investor sentiment changes and PI coins are picked up at a low price, there may be opportunities for recovery. A positive change in momentum can be noted by Pi Coin violating a resistance level of $0.51 and inverting it to support. This will invalidate bearish papers and open the door for potential price increases.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
