Pi Network, the controversial cryptocurrency project, continues to struggle in a highly competitive and uncertain market. Despite early optimism about its potential, the coin’s price remains on a downward trajectory, and recent market conditions suggest that it could be on the verge of setting a new all-time low (ATL). The rising bearish momentum, combined with investor uncertainty and declining buying support, has led to a prolonged downtrend.

One of the key indicators pointing towards Pi Network’s challenges is the Average Directional Index (ADX). This technical indicator, which measures the strength of a trend, has crossed the 25.0 threshold, indicating that the current bearish trend is gaining momentum. For Pi Network, this signals a growing likelihood that the coin may struggle to recover in the short term. The increasing bearish momentum suggests that Pi Network’s price may continue to fall, with the token now approaching its previous all-time low of $0.62.

In addition to the ADX, the Chaikin Money Flow (CMF) indicator paints a bleak picture for the token. The CMF measures the volume of money flowing into and out of a cryptocurrency, giving investors a sense of market sentiment. For Pi Network, the CMF has remained deeply negative, reflecting the lack of investor confidence and reluctance to buy into the token. Although there was a slight uptick in the CMF recently, it remains firmly in negative territory, suggesting that Pi Network is struggling to attract fresh capital.

Investor uncertainty is a major factor contributing to Pi Network’s woes. Many investors are questioning the long-term viability of the token, which has created a sense of unease within the community. This uncertainty is reflected in the growing number of outflows, with investors opting to sell rather than buy the token. As more tokens leave the market, the selling pressure intensifies, making it increasingly difficult for Pi Network to find a solid foundation for recovery.

Currently, Pi Network is trading at approximately $0.70, just above its previous all-time low of $0.62. The coin saw a sharp 12.8% decline over the past 24 hours, after failing to reclaim the $0.87 level as support. This failure to regain critical support levels highlights the continued lack of investor confidence, further contributing to the bearish sentiment. If the trend continues, Pi Network may soon break through the $0.62 support level, potentially falling to $0.50 or lower, marking a new all-time low.

The key question for Pi Network investors is whether the bearish trend will persist or if there is hope for a recovery. The only way to reverse the negative outlook is for Pi Network to see increased buying interest and fresh inflows. If investors start to capitalize on the current low prices, Pi Network’s price could bounce back, potentially reclaiming the $0.87 level and testing the $1.00 mark again. If it manages to surpass the $1.00 threshold, Pi Network would regain critical support and signal a possible recovery, allowing it to break free from its current downward trajectory.

In conclusion, Pi Network faces a critical juncture as it struggles with growing bearish momentum and investor uncertainty. The price is nearing a new all-time low, and unless there is a significant shift in market sentiment, the token may continue to face losses. Investors should remain cautious and wait for more favorable market conditions before making any major decisions.