Pi Network Nears $0.08 Amid Bearish Technical Indicators
Pi Network's token price has slipped toward $0.08, weighed down by weak technical indicators and a persistent downward trend on daily and 4-hour charts.
Pi Network's token price has slipped toward $0.08, with daily charts indicating a continued bearish trend and the 4-hour chart showing the asset trading below its lower Bollinger Band. According to CryptoNews, the token traded at $0.08006 on OKX, registering a 2.96% daily decline on Oct. 12.
Technical indicators continue to signal downward pressure. The daily Supertrend remained positioned above the price at $0.09177, maintaining a bearish signal. Meanwhile, daily Aroon readings recorded Aroon Down at 71.43% compared with Aroon Up at 14.29%, reflecting a broader lack of recent highs. CoinGecko data cited in the report showed an approximately 8% decline over seven days and a 16.4% loss over the past month.
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Technical Levels and Support
On the 4-hour chart, the token fell below the lower Bollinger Band at $0.08041, while the midpoint sat at $0.08204 and the upper band reached $0.08367. The Bull Bear Power indicator registered minus 0.00302 with histogram bars remaining below zero.
The daily session low of $0.07950 provides the nearest reference point below the $0.08 threshold. Historical charts point to previous trading activity around $0.075 during July, with CoinGecko recording the token's historical low at $0.07059.
Market Activity and Open Interest
CoinGecko recorded 24-hour trading volume at approximately $4.46 million, marking a 53.5% increase from the previous day. The platform placed market capitalization near $899 million with roughly 11.24 billion circulating tokens. Separately, a market report from TMGM cited CoinAnk figures showing futures open interest declining from $10.52 million to $8.86 million over the course of a week.
Key facts
- Pi Network traded at $0.08006 on OKX, showing a 2.96% daily decline on Oct. 12.
- The daily Supertrend remained bearish at $0.09177, while Aroon Down stood at 71.43%.
- CoinGecko reported a 24-hour trading volume of $4.46 million alongside a market capitalization near $899 million.
- Futures open interest fell from $10.52 million to $8.86 million, according to figures cited from CoinAnk.
Source: crypto.news
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