Over the past seven days, the Pi (Pi) network has decreased by more than 19%, continuing its correction, trading below $ 2 from March 1. The pressure of the sales remains dominant, and indicators such as DMI and CMF signal the further risks of reduction.
The EMA lines from PI also suggest a potential cross of death, which can lead to a deeper decrease to 0.95 US dollars if key support levels are violated. Nevertheless, if impulse and buyers intervene, Pi may try to return 2 dollars and, possibly, push to new record maximums above $ 3.
Pi Network DMI shows that the sellers are still under control, despite yesterday’s purchase pressure
The Pi (DMI) directed movement shows that its average direction (ADX) index increased to 34.29, compared with 8.97 two days ago.
This sharp increase indicates that the current price trend – bull or bear – is gaining strength. Given the recent volatility, the traders carefully monitor whether the PI will support their impulse or see another shift in the direction of the trend.
ADX measures the trend on the scale from 0 to 100, and the values above 25 indicate a strong trend and above 50, which indicates an extremely strong trend.
Meanwhile, PI +DI (positive indicator of the directed) is 11.37, compared with 17.7 two days ago, but yesterday is restored from 7.14. This signals the weak, but slightly improving bull attempts.
At the same time, -DI (the negative indication of the directed) is 30.57, compared with 19.5 two days ago, but lower after reaching 46.6 yesterday.
This suggests that although the pressure on the sale remains dominant, bears can lose impulse, leaving a place for potential stabilization or short -term rebound.
Pi CMF reaches minimums for all times
Pi Network Chaikin Money Flow (CMF) currently is -0.19, falls from 0.03 only a day ago. This sharp decrease indicates a significant shift in the stream of capital, which suggests that the pressure of the sale has increased rapidly.
A few hours ago, CMF PI reached -0.21, noting its low level in history. This emphasizes the intensity of recent outfills.
CMF is an indicator that measures a suspended volumetric flow of money in the asset and beyond, in the range from -1 to 1. Positive values indicate the pressure of the purchase, while negative values suggest an increase in sales pressure.
With CMF from the PI, now at -0.19, close to its record minimum, it signals that sellers are under control, which potentially reduces the price. If the purchase does not return, Pi can remain under pressure, with all his might trying to restore the bull impulse.
Will Pi Network fall below $ 1 in March?
The price of the PI network is currently traded between the key resistance at the level of $ 1.51 and the support level of $ 1.23, and its EMA lines signal the bear tendency. Soon, a potential cross of death may form, which can accelerate the pressure on the sale.
If this bear crossover occurs, and PI loses support in the amount of $ 1.23, it can fall further, potentially reaching up to $ 0.95.
However, if the PI manages to restore the ascending trend, it can first check the resistance at the level of $ 1.51, and the breakthrough opens the door for movement to $ 2.
A stronger rally can push Pi over $ 3 for the first time, gaining new record -high maximums, despite the recent criticism of Bybit CEO.
