- Pi Network’s price has dropped over 10% following its recent Chainlink integration, raising investor concerns and triggering heavy liquidation.
- Technical indicators suggest continued bearish momentum, though a market recovery could help PI reclaim the $0.70 level or higher.
The cryptocurrency market is riding a bullish wave with Bitcoin holding strong above $85,000, but not all digital assets are sharing in the optimism. Pi Network (PI), the viral Layer-1 altcoin, has taken a sharp hit—dropping more than 10% in the last 24 hours and sparking concerns among traders.
Bearish Pullback After Chainlink Integration
The sudden decline in PI’s value comes just a day after its much-anticipated Chainlink integration was completed. Instead of boosting confidence, the news has triggered a wave of skepticism, with many questioning the altcoin’s real value. The question “Will Pi coin ever be worth anything?” is rapidly gaining traction across crypto forums and social media platforms.
With a 24-hour trading volume of $292.29 million, Pi’s price fell from a daily high of $0.7478 to a low of $0.6414. Its market cap now sits at $4.55 billion—a significant drop as liquidation pressure mounts.
Technical Indicators Point to More Trouble Ahead
Technical analysis paints a grim picture for PI in the short term. The Relative Strength Index (RSI) has plunged below the oversold range on the 4-hour chart, signaling heightened selling activity. At the same time, the Simple Moving Average (SMA) is showing a bearish crossover, reinforcing the negative sentiment.
If the downtrend continues, PI could retest the $0.60 support level. Should this level fail to hold, the next key support lies near $0.50, which could mark a crucial tipping point for the token.
Can the Bulls Make a Comeback?
Despite the current bearish outlook, not all hope is lost. If market sentiment improves and buyers re-enter the scene, PI could bounce back toward the $0.70 level. A sustained rally could even push it toward its weekly resistance at $0.8525.
Still, investors remain cautious, closely watching whether the bulls can regain control—or if this price dip signals deeper trouble ahead for the Pi Network. For now, PI’s future hangs in the balance as it navigates heightened volatility and investor uncertainty.
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