{"content":"🔥 Can Pi Network Reclaim $1? As the hope ahead of the Consensus 2025 event evaporated, Pi Network drastically turned from $1.67 on May 12 to $0.66 on May 17. Between May 14 and May 16, Coindesk hosted an event with Dr Nicolas Kokkalis, the creator of Pi Network, who failed to inspire the investors despite the $100 million startup investment announcement. But with the market recovering, a short-term risk-on attitude drove the cryptocurrency to $0.80 on Thursday, producing a tiny support trendline in the 4-hour chart below. Ignoring the emotions, the PI coin price falls on Friday and runs the danger of breaking the short-term support trendline. The laterally sliding 200-period Exponential sliding Average (EMA) at $0.78 cushions the dropping price movement by matching the trendline. Momentum indicators send Pi a sell signal even with many support points. Reflecting a declining purchasing pressure, the Relative Strength Index (RSI) at 48 falls below the midline. Investors have to be careful as the RSI stays close to the midline, indicating little momentum. A bearish crossover occurs when the Moving Average Convergence/Divergence (MACD) crosses below its signal line. A reversal under the center line will set off a sell signal as the MACD line (blue) and signal line (red) meet headwinds with the decreasing prices. The trendline break can extend the drop towards the previous swing lows at $0.66 and $0.57. #pi #PiCoreTeam #PiNetwork #ETHMarketWatch #BinanceAlphaAlert $SOL $XRP ","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025052025/05/23/4125c6d1f9e44958a085301aae276d40.png"],"tags":[],"tradingPairs":["XRP/USDT"],"quotearticleid":0}