Pi coin capital outflow hits a monthly high, and failing to hold "this level" may lead to further fall.

The Chaikin money flow of Pi Network (PI) has reached a monthly low, with Pi coin facing record capital outflows, indicating weakened investor confidence and bearish sentiment. Pi coin is facing weak market momentum and a negative RSI, showing no clear bullish trend, and may fall to historical lows.

Pi coin has recently faced issues of sluggish growth, leading to concerns that this altcoin may fall to its all-time low (ATL). Despite showing some resilience, market conditions and investor sentiment suggest that Pi coin may be on the verge of a downward trend.

Pi coin holders exit

The Chaikin Money Flow (CMF) of Pi coin has sharply declined, and the indicator is currently below the zero line, indicating that outflows are greater than inflows.

(PI coin CMF indicator, source: Trading View)

This drop indicates that Pi coin holders are actively withdrawing to prevent further losses. The CMF has fallen to a monthly low, indicating that market sentiment towards Pi coin is turning bearish.

This capital outflow indicates a lack of investor confidence, as concerns about the future trend of PI are intensifying, leading them to withdraw from PI. If this trend continues, the price of PI may further fall, even reaching new lows.

The overall market momentum of Pi coin also appears weak. The relative strength index (RSI) of Pi coin is currently below the neutral line, indicating that the momentum of this altcoin is bearish.

PI coin has already clarified its boundaries with Bitcoin, which further confirms this, and Bitcoin has recently shown bullish momentum.

The RSI indicator is bearish, indicating that market participants have not yet identified significant buying opportunities for Pi coin. Due to the lack of a clear bullish trend, its upward momentum remains weak, and Pi coin is likely to continue facing pressure.

(PI coin RSI value, source: Trading View)

PI coin price analysis

According to BeInCrypto, the price of Pi coin is currently $0.469, maintaining above the key support level of $0.450. However, the altcoin is only 14.8% away from reaching the historical low of $0.400. If downward pressure continues, Pi coin could easily fall below that support level and retest the lows.

Given the current market conditions, Pi coin is likely to test the historical low and may fall below it. The lack of buying interest and the continuous outflow of funds suggest that this altcoin will struggle to maintain its current level. If Pi coin falls below the support level of 0.450 USD, it may set a new low and lead to further declines.

On the other hand, if demand for Pi coin is regained among investors, it may rebound from the support level of $0.450 and break through the resistance level of $0.493. This would open the door for the price to rise to $0.518 or higher, thereby offsetting bearish expectations.

However, unless there is a significant change in market sentiment, this situation seems unlikely to occur.

(Source: Trading View)