The recent Pi Network price crash has lost momentum, but technicals and fundamental factors point to an eventual bearish breakout, potentially to its lowest point in April. Technically, the coin is forming a bearish pennant pattern. Fundamentally, there are concerns that it is a ghost chain, and its centralization means that top exchanges will likely not list it anytime soon. Pi Network Price Technical Analysis: Bearish Pennant Forms The eight-hour chart shows that the Pi Network price has slumped since May 12, when it surged to $1.6631 ahead of the ecosystem news. Pi Coin has now plunged below the 50-period moving average. Most importantly, the ongoing consolidation is part of the formation of a bearish pennant pattern. A pennant is made up of a vertical line resembling a flagpole and a triangular pattern. A bearish breakout will point to a drop to the key support at $0.5580, the lowest swing… Read More at Coingape.com
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