- Pi Network Token has risen 2% to $0.63 but faces bearish divergence, suggesting weak buying pressure behind the rally.
- If it fails to break the $0.65 resistance, a pullback to $0.57 is likely, though strong demand could push it to $0.72.
The Pi Network Token has seen a modest 2% increase in the past 24 hours, trading at $0.63 at the time of writing. While the uptick aligns with the broader crypto market’s recovery, technical indicators and market sentiment suggest that PI’s upward trend may lack staying power.
Weak Buying Pressure Undermines the Rally
Despite the recent price gains, the Chaikin Money Flow (CMF) paints a concerning picture. The CMF currently sits at -0.10, well below the neutral zero line. This reading, paired with a rising price, forms a bearish divergence—an indication that PI’s rally may not be backed by substantial buying interest.
The CMF measures the flow of capital into and out of an asset. A negative value while the price climbs signals that sellers may still be dominating the market. This divergence points to a fragile rally that could reverse if demand fails to strengthen.
Bearish Sentiment Lingers in the Market
On-chain data adds further weight to this cautionary outlook. According to Santiment, the weighted sentiment surrounding PI is currently at -0.45, reflecting continued bearish discourse across online platforms and social media.
This negative sentiment has the potential to discourage new investors and could keep the token from sustaining any prolonged rally. Without a shift in investor outlook, upward price movements may be short-lived.
Key Resistance Could Define Next Price Move
PI is now approaching a critical resistance level at $0.65. If buyers fail to push the price above this threshold, the altcoin could retrace back to support at $0.57. However, a decisive break above $0.65 could open the door for further gains toward $0.72.
For now, PI’s trajectory hinges on whether it can overcome bearish technical signals and attract renewed demand. Until then, investors should tread carefully as the token tests this pivotal price zone.
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