The cryptocurrency market has been on a rollercoaster ride in the last seven days, with an overall growth of 5.61%. While Bitcoin and altcoins have seen a surge of 5.2% and 4.85% respectively, one standout cryptocurrency that has been struggling is PI. PI, which has been one of the most talked-about cryptocurrencies in 2025, has witnessed a significant decline of 26.3% in the past week alone. In the last 24 hours, PI’s market has dropped by 9.4%, raising concerns among investors about its future direction.
The decline in PI’s price began on February 27, following a period of massive growth where the price surpassed $3. Since then, the market has plummeted by 70.40%, indicating a clear dominance of sellers. The lack of buyer interest and the consistent decline in demand have contributed to the downward trend in PI’s price.
Technical analysis of PI’s market reveals that the On-Balance Volume (OBV) has hit an all-time low of -1.06B, indicating a sharp increase in selling pressure. The OBV stood at 566.88M on February 26, highlighting the rapid shift towards selling in the market. Additionally, chart pattern analysis shows that PI has been trading in a descending parallel channel, confirming the bearish trend with lower highs and lower lows.
Key price levels to watch in the PI market include a potential break below the downward-sloping channel, which could push the price down to $0.62. On the other hand, if buyers regain control, the price could rise to $1.13. The future direction of PI’s price will depend on buying interest and whether a breakout from the descending channel occurs.
In conclusion, PI’s price remains under pressure as technical indicators point to continued selling. Traders should closely monitor the market for any signs of a trend reversal or breakout to determine the next major price move. As the crypto market continues to evolve, staying informed with breaking news and expert analysis is crucial for making informed investment decisions.