The IOU price for Pi Network (PI) has been experiencing high volatility as anticipation builds for its official launch. Recent technical indicators show potential signs of weakness in the PI IOU price, leaving traders questioning whether it will break down further or rebound strongly. The ADX and +DI indicators suggest weakening bullish pressure and increasing bearish strength, which could lead to more corrections. However, the EMA lines remain in a bullish setup, indicating a broader uptrend. The RSI has dropped, suggesting weakening buying pressure, but it has not yet reached oversold levels. If the RSI continues to drop, it could indicate further downside, while stabilization around 40 might suggest consolidation. The EMA lines remain bullish but are declining quickly. If the downtrend continues, a death cross could form, indicating further declines. However, if the price rebounds, it may target resistance around $100, a potential 38% upside.



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