Pi-token slips on new levals, as the trust of institutional investors disappears
The PI token has experienced a strong slump and fell to $ 0.61 after a decline of over 22% in just one week.
The severe decline underlines the increasing pressure on the asset, since the mood of the investors continues to drop on the wider cryptoma market.
This decline reflects a larger trend for digital assets, the overall market capitalization of which has shrunk by more than 5% in the past seven days – a loss of value of around $ 170 billion. In this context, PI not only participated in the downward dynamics, but also seems to be exposed to a unique sales pressure.
The technical indicators draw a dark picture. The BBTREND oscillator, which evaluates the price movement based on the Bollinger-Band extend, is still in the negative area and is currently at -4.52. This indicates that Pi repeatedly closes near the lower volume, which is usually a sign of a continuing declining dynamic and persistent sales.
The behavior of the institutional actors is even more worrying. The Smart Money Index (SMI), a tool that follows the activities during the early and late trading hours to derive institutional movements, has decreased steadily for PI. This indicates a lesser interest of large investors, which is often a warning signal for further losses.
Taken together, the weaker BBTREND and the falling SMI indicate that both technical and fundamental forces have a effect against PI. If the dynamics do not change or the general market mood does not improve, the token could come under additional pressure in the near future.
