The cryptocurrency market has recorded a 5.61% growth over the past week, with Bitcoin surging by 5.2% and the altcoin market rising by 4.85%. However, PI, one of 2025’s most talked-about cryptocurrencies, has bucked the trend with a staggering 26.3% decline. In the last 24 hours alone, PI has dropped 9.4%, raising concerns about its future price movement. Will PI continue its downward spiral, or can bulls regain momentum? Let’s analyze the key factors driving its price action.
PI’s Price Faces Intense Selling Pressure
On February 20, PI was trading at $0.1071. Over the following days, its price skyrocketed by an astonishing 2,688.79%, briefly surpassing the crucial $3 mark on February 26. However, by February 27, sellers overwhelmed buyers, triggering a sharp decline. Since then, PI has lost over 70.40% of its value.
Over the past week, PI’s decline has accelerated, with a 26.3% drop, including a sharp 9.4% fall in just 24 hours. This steep downturn suggests that sellers maintain dominance, with no clear signs of a buyer resurgence.
Why Is PI Facing Heavy Selling Pressure?
Market data indicates that traders are exiting the PI market in droves. Demand for PI has consistently fallen since February 27, fueling bearish sentiment. Several technical indicators further reinforce this downtrend.
PI Technical Analysis: On-Balance Volume Plunges to Historic Lows
The On-Balance Volume (OBV), a key metric measuring buying and selling pressure, currently sits at -1.06 billion. On February 26, PI’s OBV was at 566.88 million, showing a dramatic shift in momentum. Such a sharp OBV decline signals strong selling activity, further validating PI’s current bearish outlook.
Chart Pattern Analysis: Descending Parallel Channel Confirms Bearish Trend
Since reaching its all-time high of $3, PI has been trading within a downward-sloping channel, forming lower highs and lower lows. This pattern reinforces the prevailing bearish trend.
Key Price Levels to Watch
- If selling pressure persists, PI could break below the descending channel, potentially dropping to $0.62.
- If buyers regain control, PI could rally toward $1.13.
In conclusion, PI’s price remains under pressure, with technical indicators pointing to sustained selling. Whether it recovers or declines further depends on buying interest. Traders should closely watch for a breakout from the descending channel to determine PI’s next major price movement.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
