Pi Network Price Plunges Amid Weakening Market Sentiment

Pi Network's price has been declining due to weak market sentiment and selling pressure. The cryptocurrency is trading below $0.1300, testing a bearish breakout of a rising support trendline.

The cumulative volume delta reflects a seller-dominant spot market, suggesting further downside potential. Technical indicators suggest renewed selling pressure, with the Relative Strength Index (RSI) tanking to 31 and the Moving Average Convergence Divergence (MACD) slipping below the signal line.

A bearish tone is expected to continue if the price drops below $0.1251, which would threaten the 78.6% Fibonacci retracement level measured over the downswing from $0.1532 to $0.1184.