#BitcoinDominanceRemainsHigh

Pi Coin is Alarmed: Will the Decline Continue, or Will There Be a Surprising Jump?
Despite the recent overall recovery in the cryptocurrency market, the outlook for Pi Network (PI Coin) is increasingly bleak. PI, which has lost over 9% of its value in the last 24 hours, is causing concern among investors. Weakening buying pressure and decreasing market participation are among the fundamental reasons behind this loss. So, what’s next for PI? OBV Indicator in Historical Decline.
Selling pressure is rapidly increasing on the Pi Network. The clearest indicator of this is the On-Balance-Volume (OBV) data. Since the beginning of March, the OBV has fallen by 2000% to -845 million. This decline makes it clear that buyers are rapidly withdrawing from the market and sell-side transactions are becoming dominant.
The fact that the OBV has reached such low levels indicates that a large portion of investors has exited from PI. This situation also shows that market liquidity has weakened and that it is currently difficult for prices to gain upward momentum.
A Falling Wedge Formation has formed in Pi Coin Charts: Is there Hope for an Upsurge?
The "falling wedge" formation, which is frequently monitored in technical analysis, has started to become prominent on the PI chart. This formation can often be a precursor to strong recoveries following prolonged declines. However, for the formation to gain validity, the price needs to break the upper trend line with significant volume.
The squeeze within the formation is still ongoing. If the PI price can break the resistance at 0.92 dollars, the descending wedge will be considered broken upwards, which could mean a rapid recovery towards the 1.13 dollar levels. Otherwise, a downward movement that could last down to 0.62 dollars remains on the table.

Critical Supports and Resistances on the Table
Current price movements allow for a two-way scenario for Pi Network. The support line at $0.76 may be the last bastion to break the bears' pressure. If this level breaks down, sales could deepen, and the PI price may fall to the psychological level of $0.60.

In contrast, if there is an increase in volume accompanied by short-term purchases and market news, the resistance at $0.92 could be broken. This could pave the way for a new wave of upward movement. These levels create critical decision points for investors.

The Danger Continues for Pi Coin but Open to Surprises
The technical outlook for the Pi Network is currently negative. However, the presence of a falling wedge formation also makes an unexpected bounce possible in the short term. Therefore, it is vital for investors to carefully monitor developments and position themselves according to support and resistance levels.