PI/USDT breaks down, bearish dominance! How are the brothers who entered at a cost price of 0.65 doing? 🚨

Gate PI perpetual contract ($PIUSDT) Current market situation is not optimistic!

Current price: 0.44758 USDT, 24-hour drop -2.82% Key breakout: The price has significantly fallen below all short-term moving averages! MA5 is at 0.48294, MA10 is as high as 0.58346, the current price is far below this, indicating a clear bearish arrangement.
Technical Indicators ( MACD ): MACD ( -0.01062) and Signal Line DEA ( -0.22114) are both below the zero axis, and DIF ( -0.23177) is also deeply underwater, indicating that bearish momentum remains strong. Although the MACD histogram slightly shortens (-0.01062), the overall trend has not changed.
Active trading: The 24-hour trading volume is nearly 29.73 million USDT, with a trading volume of 66.48 million PI, indicating high market attention, but the current direction is bearish.
Harsh reality: The data shows that the average cost price is at 0.6 USDT! This means that around the current price of 0.44758, holders are generally facing a massive unrealized loss of over -31%! The data even shows that the floating loss reaches -94.6683 million USDT!😱

📌 Key Observation Points:
1. Strong pressure: MA5 (0.4829) and MA10 (0.5835) form a strong resistance area above.
2. Support is Weak: The 24-hour low of 0.42300 is the most recent and critical support level below. If it breaks, it may trigger a deeper decline.
3. Volume Interpretation: A decline accompanied by significant trading volume, is it a release of bearish power? Or panic selling? Continued observation is necessary.

⚠️ Warning: The current technical situation is completely dominated by bears, with a clear downtrend. For friends with a position cost around 0.65, the pressure is immense. Contract trading must pay attention to leverage risks!

What does everyone think? Is it time to buy the dip? Or should we remain bearish? Can the support at 0.423 hold? Let's discuss in the comments! 👇
#七月行情预测#