[Analysis] "Pi Network Continues Bearish Trend... Bullish Momentum Lost"

Uk Jin

Summary

Pi Network (PI) recently lost bullish momentum and fell 3.13% to $0.7473.
BeInCrypto observed additional bearish signals through the Ichimoku Cloud and Bollinger Band Trend indicators.
The Pi Network's BBTrend indicator recently fell to -1.85, weakening bullish signals.

*Pi Network Ichimoku Cloud Chart/Photo=TradingView*

Concerns about Pi Network (PI) are growing. Technical analysis also suggests that bullish momentum has been lost.

As of 8:40 AM on the 28th (KST), Pi Network is trading at $0.7473, down 3.13% from the previous day according to CoinMarketCap.

The cryptocurrency-focused media BeInCrypto stated, "The Ichimoku Cloud chart of Pi Network suggests further bearishness," and evaluated that "short-term momentum has been lost."

BeInCrypto also reported that bearish signals were observed in the Bollinger Band Trend (BBTrend). The media explained, "The Pi Network BBTrend indicator maintained a positive range from the 22nd to the 26th," but "recently, the indicator recorded -1.85, weakening bullish signals."