PI Faces Growing Selling Pressure

Daily chart readings for PI now indicate strengthening selloffs, signaling a declining chance of the sideways trend resuming.

The Elder-Ray Index, which tracks the balance between bulls and bears, highlights a clear shift toward sellers. After two consecutive days of bullish histogram bars, the indicator has flipped negative, suggesting that selling pressure is beginning to dominate the market.

This reversal in the Elder-Ray Index points to waning buying interest. Unless bulls regain momentum, PI may struggle to reclaim previous breakout levels and could face additional downward pressure in the coming sessions.