Pi Coin's price has dropped 7% in the last 24 hours, underperforming major cryptocurrencies like BTC and ETH. This article explores three reasons why avoiding investments in Pi Coin right now might be prudent.
Bearish Indicators on Technical Charts
Pi Coin shows significant bearish sentiment on technical charts. RSI is at 37, indicating momentum loss. STOCHRSI(14) is overbought at 99, pointing to a potential downside reversal. ROC at -15.655 illustrates strong selling pressure. CCI near -94.26 is close to oversold territory.
Major Catalysts Are Behind Us
Pi Coin has experienced significant price drops following key events such as reaching an all-time high of $3 and the mainnet merge. The market shows fatigue from hype, and upcoming events haven't yet provided strong price support.
Pi Coin Market: A Complex Path to Growth
Despite a significant market capitalization of $10 billion, a 10x growth potential for Pi Coin faces challenges due to current market conditions and a lack of momentum in the crypto space.
At this moment, Pi Coin is losing its appeal to investors aiming for high returns, and Solaxy might present an intriguing alternative in the early project category.
