Pi Network (PI) Hits Record Airdrop But Momentum Falters | Airdrop Alert Pro

PI Network (PI) has finally launched and become the largest airdrop in crypto history, surpassing UNISWAP, but its price action has been fluctuating since its launch. Despite the hype, PI’s ADX has dropped from 60.2 to 15, indicating a lack of obvious trends and reduced market momentum.

It is RSI It also saw a sharp drop from more than 90 people to 45.2, reflecting the shift from extreme buying pressure to more cautious sentiment. If sales pressure continues, PI can be tested for support at $0.71. The reversal could push it toward a $1.02 resistance and could rise to $1.26.

PI network DMI shows a lack of obvious trends

The DMI chart for PI Network shows its ADX of 15, down from 60.2 hours after its official launch a few hours ago. It becomes The largest air conditioner in encryption history, surpassing uniswap. This rapid decline in ADX suggests a decrease in momentum loss and trend, indicating that the initial hype surrounding the launch has disappeared.

15’s ADX reflects The trend is weakindicating that the market is currently indecisive and lacks a clear direction.

ADX drop highlighting decrease volatilitysuggesting this PI network prices can be combined Or keep the boundaries of the scope until a new trend is established.

this The average direction index (ADX) is a momentum index This measures the strength of the trend without indicating its direction. Typically, ADX below 20 indicates a weak or non-existent trend between 20 and 40 indicates a trend trend, and more than 40 signals are strong trends.

In addition to this, the +DI and -DI lines provide insights into buying and selling pressures. Currently, the +DI of PI Network is 16.3, which has dropped significantly from more than 60 hours ago. PI purchase pressure. In contrast, the -DI is 21.6, which is higher than 4.2 at launch, showing an increase in sales pressure.

This shift suggests that the initial bullish momentum has reversed and sellers are gaining control. With ADX so low and the price drops, the next trend is uncertain and when the market seeks direction, traders should pay attention to decomposition or potential reversals.

Pi RSI has dropped sharply since its launch

The RSI of PI Network is currently 45.2, showing a peak at launch tokens of more than 90. The initial spikes over the age of 90 show that this condition is extremely high driven by intense buying pressure and market excitement.

However, the rapid drop to 25.1 a few hours ago reflects a rapid emotional reversal. Sales pressure takes over.

A recovery rate of 45.2 indicates that extreme sales have eased, but the RSI is still below 50, indicating that bearish sentiment still prevails.

this Relative Strength Index (RSI) It is a momentum oscillator that measures the speed and changes of price changes, ranging from 0 to 100.

Typically, RSI exceeds 70 signal over high conditions, indicating potential price correction. Meanwhile, an RSI below 30 indicates too many conditions, which may lead to a price rebound. The RSI of PI is currently 45.2, and the market is neutral to slightly bearish. This reflects the trader’s waiting for a more obvious direction, which reflects a cautious sentiment.

This level indicates that sales pressure has subsided, but purchase interest remains weak. If the RSI can climb above 50, it may mark a bullish reversal that could lead to a price recovery.

However, if it falls behind 30, it may indicate sales pressure and Further disadvantages of PI network.

Will the PI network be below $0.70 soon?

If sales pressure continues PI can test support The level is about $0.71, and its longest EMA line is in position. This is a key area to maintain the current price range.

If this support is lost, the bearish trend may accelerate. It could lead to further declines and continue to move downward momentum.

On the other hand, if the trend reverses, and PI gains bullish momentumit may test resistance at $1.02. A breakthrough above this level will indicate a new interest on buying interest and may lead to a bullish trend reversal.

If this resistance is successfully violated, PI could rise to $1.26, which is potential 41% upside potential at the current level. This will confirm the end of the bearish phase and may attract more buying activity.