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The price of Pi Coin has dropped by 4.46% amid market volatility.
In the last 24 hours, the price has dropped by 4.46%, and over the week, it has fallen by 15%.
PI is trading 37% above its historical low.
The Money Flow Index (MFI) indicates oversold conditions, suggesting that sellers are dominating.
The Relative Strength Index (RSI) is approaching the oversold level below 30.
PI has been in a descending triangle for several weeks.
Horizontal support at the level of $0.53 is important for price protection.
Factors influencing the price
The correlation with Bitcoin (BTC) may affect the recovery of PI.
The positive sentiment within the Pi Network ecosystem regarding the growth and unlocking of tokens may also play a role.
Despite the current difficulties, there is potential for recovery with improved market conditions. Investors should closely monitor BTC movements and the development of the ecosystem.