Pi Network Price Drops as Technical Outlook Remains Bearish

The Pi Network (PI) price has been experiencing a downward trend over the past few days, with a third consecutive day of losses. According to data from PiScan, mild outflows from Centralized Exchanges (CEXs) have failed to offset the broader selling pressure in the cryptocurrency market.

This diverging trend suggests that the current bearish pressure outweighs any potential buying activity, deepening the downside risk in PI. The 50-, 100-, and 200-day Exponential Moving Averages (EMAs) remain fairly above the price, reaffirming the bearish trend.