The post Pi Network Rally Stalls at $0.28: 3 Key Reasons appeared on BitcoinEthereumNews.com. Key Notes Analyst Marzell pointed to overbought indicators, profit-taking after the Fed rate cut, as a near-term downturn for Pi Network price. He also added that upcoming Pi token unlocks and limited ecosystem growth cast a shadow over further upside. Despite the correction risk, Pi Network is advancing with its Protocol 23 mainnet upgrade, expanding KYC verification, etc. The Pi Network PI $0.24 24h volatility: 13.9% Market cap: $2.01 B Vol. 24h: $83.65 M price rally, with 30% upside on the weekly chart, once again got investors’ attention. However, the major resistance that Pi token faces at $0.28 could spoil the party for the bulls. However, on-chain indicators point out that the rally seems overheated, and it might be losing steam very soon. Is Pi Network Price Rally Losing Steam? Crypto analyst Marzell noted that Pi coin has staged a strong recovery, climbing 87% from its yearly low to reach $0.2795, its highest level since September. However, Marzell cautioned that despite growing market excitement, technical indicators suggest the rally could be losing momentum. He shared three reasons for a potential consolidation and a pullback in the short term. Pi Network’s price action. | Source: TradingView The first reason is that the Pi Network price action suggests a classic “buy the rumor, sell the news” event. Marzell noted that the Fed rate cut was largely priced in, with probabilities exceeding 97% on Polymarket and CME FedWatch tools. As a result, many traders accumulated Pi ahead of the announcement. Now that the decision is confirmed, profit-taking could lead to a sharp short-term correction. The second reason the analyst highlights is the overbought technical indicators. Both the relative strength index (RSI) and stochastic oscillator are reaching elevated levels that suggest overheated momentum. The third reason, as per Marzell, is that Pi Network price… The post Pi Network Rally Stalls at $0.28: 3 Key Reasons appeared on BitcoinEthereumNews.com. Key Notes Analyst Marzell pointed to overbought indicators, profit-taking after the Fed rate cut, as a near-term downturn for Pi Network price. He also added that upcoming Pi token unlocks and limited ecosystem growth cast a shadow over further upside. Despite the correction risk, Pi Network is advancing with its Protocol 23 mainnet upgrade, expanding KYC verification, etc. The Pi Network PI $0.24 24h volatility: 13.9% Market cap: $2.01 B Vol. 24h: $83.65 M price rally, with 30% upside on the weekly chart, once again got investors’ attention. However, the major resistance that Pi token faces at $0.28 could spoil the party for the bulls. However, on-chain indicators point out that the rally seems overheated, and it might be losing steam very soon. Is Pi Network Price Rally Losing Steam? Crypto analyst Marzell noted that Pi coin has staged a strong recovery, climbing 87% from its yearly low to reach $0.2795, its highest level since September. However, Marzell cautioned that despite growing market excitement, technical indicators suggest the rally could be losing momentum. He shared three reasons for a potential consolidation and a pullback in the short term. Pi Network’s price action. | Source: TradingView The first reason is that the Pi Network price action suggests a classic “buy the rumor, sell the news” event. Marzell noted that the Fed rate cut was largely priced in, with probabilities exceeding 97% on Polymarket and CME FedWatch tools. As a result, many traders accumulated Pi ahead of the announcement. Now that the decision is confirmed, profit-taking could lead to a sharp short-term correction. The second reason the analyst highlights is the overbought technical indicators. Both the relative strength index (RSI) and stochastic oscillator are reaching elevated levels that suggest overheated momentum. The third reason, as per Marzell, is that Pi Network price…