Technical indicators suggest further downside may be on the horizon for Pi token as traders grow cautious.
A bearish crossover appeared on the MACD chart, indicating a breakdown in bullish momentum, increasing selling pressure.
With a significant token unlock of over 312 million Pi tokens valued at $150 million scheduled in the next 30 days, analysts fear a supply shock that could deepen the downtrend.
The lack of strong catalysts to drive new interest coupled with current weak demand raises concerns about Pi's future price trajectory.