In the strange theater of digital whims, Pi Network [PI], that charmingly fickle gem, plummetedâoh, how it fell! A staggering 20.37% in a mere 24 hoursâenough to make even the most stoic investor ask if the moon is now just a distant memory. This dire nosedive dares to threaten to wipe out the entire monthâs triumphs, leaving only a mere 14% jiggle in Mayâs performance.
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View Urgent ForecastPI loses key market support â And the plot thickensâŠ
Using the venerable Bollinger Bandsâa fancy indicator that makes traders behave like caffeinated squirrelsâanalysts observed PI slipping beneath what should have been its safety net. The middle band, that supposed bastion of hope, has been crossed like a rebellious child, signaling that the selling hysteria is not only real but potentially unstoppable. It seems PI is headed south, towards the lower band, where troubleâor perhaps opportunityâawaits.
That elusive support at $0.3112, once the steady hand in the storm, now looks more like a dying emberâits hold slipping as PI eyes the abyss at $0.30 or even lower. A further 56% slide from recent peaksâwhat a charming prospect to dream about, eh?
Whatâs the tendency for the fall? A tragicomic ballet
The sinister Accumulation/Distribution (A/D) indicator reveals a market in reckless abandonâsellers tossing shares like confetti, demand nowhere to be seen, as if Pi is a hot potato nobody wants to hold! The momentum is so bleak that PI might dip below its historic lowsâtick-tock, the doom clock is ticking.
Meanwhile, the Average Directional Index (ADX), that marvelous marker of marketâs mood, screams high pressureâmore selling than buying, as if market sentiment has turned into a punchline. Should this high-pressure trend continue, PI is scripting a dark comedy: a descent to the lowest abyss, where only the bravest or most foolish dare to tread.
Tradersâ handbags are shrinking â Panic at the futures parade
Their wallets echo the somber tune: Open Interest on PI Futures dwindledâdown to a modest $4,000âwhich suggests a mass exodus of contract-holders clutching their profits or losses, rather than their hopes. Itâs a market cauldron bubbling over with selling frenzy; everyoneâs rushing out of the door faster than you can say âmargin call.â
Hence, as the market space empties and indicators align like a corny conspiracy, the most plausible and dramatic toast is that PIâs journey down will continue, aiming ominously for the fabled $0.30âpossibly the new picnic spot for profit mourners everywhere.
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2025-05-18 01:13