The PI coin price is at an extended decline, which recorded losses in three of the last four days. The coin is trading in -1.8% as of this writing, with its weekly return to -2.7%. That is a harsh verdict for the coin, considering the recent recovery seen in the broader crypto market. For example, CoinMarketCap data shows that the capitalization of the cryptocurrency market increased from $ 2.68 trillion to $ 2.98 trillion in the last seven days.
Coins cracks under the negative sentiment on the PI network
The difference -the price of the PI network's coin price from the rest of the market in the last week exacerbates the weakening of investors. The PI Network project has not been made much to ensure its supporters that its course to deliver promises outlined on the road map. In particular, the PI map and the merchant adoption numbers failed to fire a spark that could pumped up the PI coin price.
The bad feelings saw Bitmart Delist Pi and Banxa suspended it. That was an extension of previous actions by Binance and Bybit, the top-tier that appeared as an example of a cold foot against PI.
In addition, the massive unlock of the PI token in April has weakened the price reversed by traction through a significant supply increase. A total of 126 million PIs should be locked in April, with 4.8 million coins set to enter circulation today. The monthly figure of coin unlocking will increase
Meanwhile, the PI network is the official sponsor of Consensus 2025, one of the largest events in the blockchain industry in the world. Network founder, Nicolas Kokkalalis will be the main speaker at the event, and his statement may be injecting fresh impetus on the PI coin price.
PI price price
PI price pivots at $ 0.625 and the descending momentum favors sellers to stay in control if the resistance goes on to that level. The initial support is likely to be at $ 0.600. However, an extended descending momentum will be damaged below that level, which potentially pick up the price less to test $ 0.585.
Conversely, destroying above $ 0.632 will change the momentum upside down. That is likely to see the first support came at $ 0.620. The downside narrative is invalid if the price breaks above $ 0.632. The upside is likely to meet the first barrier to $ 0.644. However, an extended consumer control will go above that level and try a second resistance to $ 0.661.
