Pi Network dips 1% as falling Open Interest leaves $0.0801 support at risk
Key takeaways The token traded near $0.0823, recovering modestly from support at $0.0801. Futures open interest fell to $8.94 million from $10.38 million, a decline of approximately 14%. PI faces resistance at $0.0827 and $0.0902, while a break below $0.0801 could expose $0.0704. Pi Network is trading lower on Thursday, offering a modest pause in […]
Our Summary:Pi Network's price fell 1% as its futures open interest declined by 14%, raising concerns about the token's support at $0.0801. The token traded near $0.0823, recovering from its support level, but its weekly decline and bearish momentum continued to weigh on the market. Key technical indicators, such as moving averages and the Relative Strength Index, also pointed to a bearish trend, suggesting that the token's recent bounce may not be sustainable.