Pi Network Price Prediction: Can PI Stay Above $0.50?

Pi Network is struggling to maintain its strength as bearish momentum drags the digital asset below the crucial $0.50 mark. PI is down roughly 2% as of July 4, trading in a narrow range of $0.4711 to $0.5000. Even though there has been a lot of talk about Pi online, current market trends indicate that there may be some short-term worries.

PiScan data indicates that more and more investors are accumulating, as seen by lower balances on controlled exchanges such as OKX.   Lower exchange balances are usually indicative of an optimistic mindset, implying that people intend to hold on to their investments for an extended term.   The Pi Foundation’s wallet activity, which recently sold more than 5.8 million tokens, more than the net inflow from all exchanges combined, contradicts this pattern. This discrepancy has raised concerns that normal investors may bear the selling pressure from core team wallets.

Social Buzz Increases, but Negative Feelings Persist

  Santiment reports that Pi Network’s social dominance increased from 0.18 percent earlier in the week to 0.39 percent on Friday.  This indicates that more people are interested in it. Even with a lot of chatter, the weighted attitude remains negative at -0.327, indicating that individuals are more cautious than hopeful.

Will Technical Issues Push PI Below Support?

Technical indicators are still dismal. The MACD line has fallen below its signal line, and the RSI is at 36, close to becoming oversold. The next support level is approximately $0.40, which was last hit in mid-June.  This is assuming PI closes below $0.4711.

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