Crypto: Is Pi Network Under Pressure? Traders Fear A Potential Crash

In an ever-changing crypto market, Pi Network finds itself at a crucial turning point. While investors were waiting for signs of stabilization, the asset is facing a concerning downward trend, fueled by increased selling pressure. The expiration of the migration period to the mainnet, combined with technical indicators in the red zone, is fueling growing uncertainty.

A selling pressure that is intensifying

The futures market is sending critical signals for Pi Network. A negative funding rate reveals a predominance of short positions, reflecting a widespread anticipation of falling prices. This phenomenon can be explained by several key factors:

• The migration deadline to the Mainnet, set for March 14, which puts pressure on Pi holders who have not completed their KYC verification.
• A loss of confidence among investors, with some preferring to liquidate their positions to avoid being left with unusable tokens.
• The lack of buying support, which prevents the asset from regaining sustainable bullish momentum.

Faced with these uncertainties, many traders are adopting a defensive strategy, further intensifying selling pressure in the market.

Serious technical signals

Technical indicators provide little reassuring information. Among them, the MACD (Moving Average Convergence Divergence) shows a concerning configuration, with a potential imminent bearish break. If this trend is confirmed, Pi Network could see its price drop below its current support.

The critical levels to monitor are:

• $1.64, currently the main support level for Pi Network.
• $1.43, a pullback level in case of a support break.
• $1.98, the key resistance to overcome for a bullish reversal.

If Pi Network fails to maintain its support, an acceleration of the downward trend seems inevitable, increasing the risk of a panic move among investors.

The Pi Day effect: a possible catalyst?

In this climate of uncertainty, some analysts hope to see the Pi Day effect act as a stimulus for crypto. Celebrated every year on March 14, this event typically generates an increase in engagement on social networks, which could positively influence the demand for Pi Network.

For this effect to play in favor of the project, several elements must come together:

• A significant increase in trading volumes, indicating a renewed interest from the market.
• A breakout above the $1.98 resistance, which could negate the current downward trend.
• A renewed enthusiasm from the community, capable of generating bullish momentum.

However, these conditions remain theoretical and highly dependent on the overall sentiment of investors.

The future of Pi Network now hinges on its ability to surpass this critical phase. Two scenarios remain possible:

• A bullish scenario: a breakout above $1.98 would allow the asset to break its bearish channel, opening the way to a sustainable recovery.
• The bearish scenario: a break below $1.64 could accelerate the decline and send Pi Network to new lows.

As the market oscillates between hope and caution, the coming days will be crucial for the project. Investor confidence and social momentum will play a key role in the evolution of the price of Pi Network, which could either confirm its current weakness or regain unexpected bullish momentum.