PI faces increased downward pressure as buying interest wanes: BeInCrypto analysis

Pi Network (PI) is experiencing a decline, signaling reduced buyer interest as traders are turning away from the token, according to BeInCrypto. PI's On-Balance-Volume (OBV), a momentum indicator that uses volume flow to predict changes in crypto price, has dropped to its lowest level ever, having dramatically fallen since March. This indicates that more people are selling than buying, which lowers PI's price. According to the daily chart against USDT on Gate.io, PI is in a downward trend, moving between lower highs and lower lows since hitting a record high of $3 on Feb. 26. This trend suggests that the price of PI could continue falling unless it breaks out of this range or encounters a significant tailwind.