PI – Bearish Momentum Builds as Key Support Faces Pressure

PI continues to slide deeper into bearish territory, with technical indicators signaling mounting selling pressure. The Elder-Ray Index on the daily chart has remained negative since July 12, reflecting consistent dominance by bears and a clear lack of bullish momentum.

With sentiment firmly tilted to the downside, the $0.43 support level is now under threat. A breakdown below this threshold could pave the way for a retest of PI’s all-time low at $0.40. Traders should watch this zone closely, as it may serve as a critical pivot for price direction.

That said, any resurgence in buying volume could spark a short-term recovery and shift momentum. Until then, caution is warranted.