$PI Pi coin breaks through key structural critical point, may retest historical low of 0.13 dollars after 33% crash

Summary

On March 24, Pi Network (PI) price fell to 0.1897 dollars, declining over 33% from the March 13 high. The daily chart shows PI forming a double top structure, approaching historical lows. Capital flow signals show increased selling pressure, with the MFI indicator continuing to decline; if it breaks below 40, capital outflow may accelerate. PI's correlation with Bitcoin has turned negative, with technicals showing a weak trend. Key support levels are at 0.1597 and 0.1415 dollars; breaking above 0.1940 dollars could provide rebound space.

According to Gate News, on March 24, Pi Network (PI) price continued to weaken, currently trading at 0.1897 dollars, down over 33% from the March 13 high of 0.2990 dollars. The daily chart shows PI is forming a typical double top structure, gradually approaching the historical low range of 0.1300 dollars; however, this pattern requires a confirmed effective breakdown of key support to be fully validated.

Capital flow signals indicate selling pressure is intensifying. The MFI indicator previously touched above 83 in mid-March and quickly retreated; it currently stands near 43, declining for 10 consecutive trading days with no effective rebound yet. Once it breaks below 40, it may further enter a phase dominated by capital outflow, exerting sustained pressure on price.

Meanwhile, PI's correlation with Bitcoin has dropped to -0.27, marking the first time it has turned negative since February. This means PI's movement no longer follows Bitcoin's fluctuations; even if Bitcoin rebounds, it would be difficult to drive PI to rise in sync, with price movements more driven by its own selling forces.

From a technical perspective, PI is currently suppressed by the 0.1940 dollar moving average, with short-term trends leaning weak. Key support levels below are located at 0.1597 dollars, 0.1527 dollars, and 0.1415 dollars respectively; once falling below 0.1415 dollars, it may further test the 0.1300 dollar historical low zone. However, if PI's daily line reclaims 0.1940 dollars and breaks through the 0.2103 dollar key retracement level, it will weaken the current bearish structure and open space for price rebound. Until then, markets should remain vigilant about continued downside risks.