最新报道：According to the news from Bijie.com, the performance of Pi Network's tokens continues to be sluggish, and the price remains sideways despite the bull market in the crypto market. The market rebounded last week, with multiple assets hitting record highs and some assets climbing to multi-month highs, but the PI token is still fluctuating within the range. As the market's interest in the altcoin plummeted, it lacked the momentum to break out of the narrow range. Investor interest waned, PI went sideways and on-chain activity declined Currently, PI is trapped in a sideways trend, facing strong resistance at $0.46 and solid support at $0.43. Unlike other assets that have risen on the back of investor enthusiasm, PI's trading interest has continued to decline, and on-chain trading volume has decreased significantly. According to Santiment data, its on-chain trading volume has fallen by 21% in the past seven days, indicating weakened demand and investors are becoming cautious. Reduced trading volume means that fewer investors are buying and selling this asset, reflecting reduced interest, reduced liquidity, or general hesitation in the market. Under PI's current sideways trend, this shows that the market lacks a clear consensus, and buyers and sellers are evenly matched, resulting in stagnant momentum. In addition, PiScan data shows that Pi Network plans to unlock 95 million PI tokens in the next eight days, further exacerbating bearish pressure on the token. Given the continued stagnation of prices and the decline in trading volume, token unlocking may exacerbate the price stagnation of PI and even trigger the risk of breaking the $0.43 support level. The release of a large number of tokens will increase selling pressure, especially in a bearish environment where demand is weak and it is difficult to absorb new supply. PI's bearish momentum deepens - focus on the $0.43 support level The Elder-Ray indicator assessment of PI on the daily chart shows that market sentiment is bearish. This indicator measures the strength of longs and shorts and has been negative since July 12, highlighting the strength of shorts. If the current trend continues, the possibility of breaking the $0.43 support level increases, and PI is expected to test the historical low of $0.40 again. However, if buying becomes active again, the market momentum may turn, and the price of PI tokens may break through the $0.46 resistance and rebound to the $0.50 level. Want more token technical analysis and market updates? Subscribe to editor Harsh Notariya’s daily cryptocurrency newsletter here.