Pi Token Faces Potential BreakdownIn the ruthless world of cryptos, some drops leave no room for ambiguity. The Pi Network crypto, which promised public access to mobile mining, is now wavering under the weight of a defiant market. While its PI token slides towards $0.60, technical indicators turn red and confidence erodes. Where supporters hoped for a recovery, there is a constant selling pressure establishing itself, signaling a potentially lasting shift in the project’s trajectoryIf the price falls below this support, it could drop to $0.57. The trend is all the more worrying as the Relative Strength Index (RSI) has remained firmly below the neutral zone since the end of May.

This positioning suggests a strengthening of bearish momentum, and above all a lack of significant buying pressure, which makes the scenario of a break even more plausible.

The technical indicators used in the analysis all reflect a fragile dynamic. The market struggles to react at current levels, leaving little hope for a spontaneous rebound. Here are the key technical points :Beyond just on-chain data, it is market psychology that heavily weighs on Pi Network’s trajectory. The sentiment around the token, as measured by the Santiment platform, shows a constant deterioration in investor confidence.

Confidence seems to erode, oscillating between temporary optimism and a quick return to caution. This lack of conviction could trigger stronger waves of selling in the coming days. Such emotional instability, combined with the absence of a fundamental catalyst, adds an additional threat to the maintenance of the technical support mentioned earlier.

The most concerning aspect lies in the volatility of collective mood. In this climate of uncertainty, even