Pi Network (PI) Price Corrects Sharply Post-$100M Fund News; Analyst Cites “Overbought Euphoria”
- Pi Network (PI) price corrected over 28% (from $1.53 to $0.8447) after its $100M fund news
- Analyst BOB on X attributes PI drop to “overbought euphoria,” citing RSI above 90 pre-fall
- PI recovery to $1.50+ hinges on Pi Network Ventures utility & major CEX listings (Binance)
Pi Network (PI) has experienced a sharp correction after what should have been bullish news, the announcement of a $100 million venture fund aimed at accelerating development on its mobile-first blockchain.
Instead of rallying on the news, PI dropped more than 28% in 24 hours, falling from its local high of $1.53 to a recent low of $0.8447. The token now trades at $0.8647, slightly off its intraday bottom, but still deep in the red.
Overheated Rally Led to Predictable Exhaustion, Says Analyst BOB
According to crypto analyst BOB on X, the market was caught in an “overbought euphoria” following the hype around the Pi Network Ventures announcement.
With RSI crossing 90 on the 4H chart during the pump to $1.53, PI was in dangerously overheated territory. The correction was brutal but predictable. The analyst noted:
“Short-term might bleed more, especially with those token unl…
The post Pi Network (PI) Price Corrects Sharply Post-$100M Fund News; Analyst Cites “Overbought Euphoria” appeared first on Coin Edition.
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Pi Network (PI) Price Corrects Sharply Post-$100M Fund News; Analyst Cites “Overbought Euphoria”
- Pi Network (PI) price corrected over 28% (from $1.53 to $0.8447) after its $100M fund news
- Analyst BOB on X attributes PI drop to “overbought euphoria,” citing RSI above 90 pre-fall
- PI recovery to $1.50+ hinges on Pi Network Ventures utility & major CEX listings (Binance)
Pi Network (PI) has experienced a sharp correction after what should have been bullish news, the announcement of a $100 million venture fund aimed at accelerating development on its mobile-first blockchain.
Instead of rallying on the news, PI dropped more than 28% in 24 hours, falling from its local high of $1.53 to a recent low of $0.8447. The token now trades at $0.8647, slightly off its intraday bottom, but still deep in the red.
Overheated Rally Led to Predictable Exhaustion, Says Analyst BOB
According to crypto analyst BOB on X, the market was caught in an “overbought euphoria” following the hype around the Pi Network Ventures announcement.
With RSI crossing 90 on the 4H chart during the pump to $1.53, PI was in dangerously overheated territory. The correction was brutal but predictable. The analyst noted:
“Short-term might bleed more, especially with those token unl…
The post Pi Network (PI) Price Corrects Sharply Post-$100M Fund News; Analyst Cites “Overbought Euphoria” appeared first on Coin Edition.
Read More