Pi Crypto Digs Lower: A Temporary Setback or a Long-Term Trend?

Pi Crypto Digs Lower: A Temporary Setback or a Long-Term Trend?

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The Pi crypto price marks losses in Intraday as traders adopt cautious stance.    
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The technical indicators imply a bearish outlook in the short term below the 50-Day and 200 day EMA. 
The Pi crypto moves lower in Intraday on Monday resuming the previous day’s selling pressure. The buyers could not hold the morning gains and the price dropped lower indicating the continuation of a short term bearish bias. 
As observed on a 4 hour chart, the PI crypto price suffered rejection from the 200 day EMA  and headed south to erase the recent gains. The crypto has downside room till $27.5 and might keep on digging lower.  The short term outlook is bearish which  is adding the sellers after every rise.
At the time of writing, the Pi price was at $29.79 after losing 1.03% intraday. As per data obtained from coinmarketcap(dot)com, it has a total market capitalization of $2.03 Million and ranks 2816th among all the cryptocurrencies. It had a 24-hour tra

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