Pi Network Faces Bearish Pressure: Will It Drop Below $1 in March?

Pi Network (PI) has experienced a sharp downtrend, down more than 19% in the past week. Since March 1, the token has struggled to regain momentum, consistently trading below $2. Despite the intermittent buying pressure, indicators such as the (DMI) Movement Index and the Chaikin Cash Flow (CMF) suggest that the control of the downtrend still prevails, signaling the next potential risks. The EMA lines of the PI indicate the possibility of a death cross Technical indicators point to the possibility of a "death cross", a bearish signal when the short-term (EMA) Exponential Moving Average crosses below the long-term EMA. If this crossover occurs, it could increase selling pressure, pushing the PI to the critical level of $0.95. However, if the buying pressure increases, the PI may attempt to recover, regain the $2 level, and may aim for a new all-time high above $3. DMI says sellers are still in control The index moving in the (DMI) direction shows that the (ADX) Average Directional Index has soared from 8.97 to 34.29 in just two days. An upward ADX indicates a strong uptrend—whether bullish or bearish—indicating that the ongoing downtrend of the PI may continue.

+DI (Chỉ cực) Directional Index: Currently at 11.37, up from 7.14 yesterday but down from 17.7 two days ago, indicating a weak bullish effort but slightly improving. (Chỉ cực)-oriented DI: Currently at 30.57, up from 19.5 two days ago, although lower than yesterday's peak of 46.6. While the sellers are still dominant, the -DI is declining indicating that the decline may be slowing, facilitating stability or a short-term recovery. CMF hits record low, indicating strong selling pressure The Chaikin Money Flow (CMF) indicator for PI has plummeted, reaching -0.19 from 0.03 just a day ago. A few hours ago, the PI's CMF hit an all-time low of -0.21, highlighting strong outflows and reinforcing pessimism.

The CMF, which ranges from -1 to 1, helps measure cash flow by volume. Negative values indicate increased selling pressure, while positive values indicate buyer dominance. With the PI's CMF approaching the lowest recorded level, this signals that sellers are in tight control. Unless there is a spike in buying activity, PI may have difficulty regaining momentum in the short term. Key support and resistance levels The PI network is currently trading between two important price levels: Resistance: $1.51 Support Level: $1.23 If the PI fails to hold the $1.23 support level, the token could face a prolonged decline, potentially testing the $0.95 mark. On the other hand, a break above the $1.51 resistance could open the door for a rally to $2, with a sustained rally likely to push the PI above $3. Will PI drop below $1 in March? With the current technical indicators and market sentiment, the PI faces significant bearish pressure. If a potential death cross points form and the selling momentum strengthens, the price may fall below $1. However, if the PI manages to regain the bullish pull, it could test the key resistance levels and even head towards the new all-time high.

Investors should keep a close eye on market movements, as any change in trend can determine whether the PI is continuing its downward trajectory or is returning. With the ongoing volatility, traders are advised to be cautious and weigh key technical levels when making investment decisions.