The price of the Pay network continues its stability today, June 16, awaiting a new catalyst. The Pay token is trading at 0.6 Dollar, with a possibility of a 35% drop and testing again its lowest level from last week. The Trading Volume has decreased, indicating a drop in order, while inflows to centralized trading platforms have risen.

Technical analysis of the Pi Network price indicates a collapse.
The extended eight-hour timeframe shows that the price of Pi Network has moved sideways significantly since May. This consolidation occurred after its decline following the rise in May when the developers promised an important announcement.

Technical analyses indicate that the volatility of the PI digital currency has diminished. The gap between the three lines of the Bollinger Bands indicator has significantly narrowed, while the Average True Range (ATR) has decreased.

Bollinger Bands and ATR are among the most common volatility indicators in technical analysis. ATR measures the average range of price movement, taking into account gaps and other fluctuations. A decrease in ATR indicates a decrease in volatility.

The Bollinger Bands indicator is calculated by first determining the moving average, then its positive and negative standard deviations. In most cases, the asset often experiences a bullish or bearish breakout when the gap between the three lines narrows.

In the case of the Pi Network, it is likely to experience a bearish decline as it remains below the fifty-period moving average. In this case, the next price target for the Pi cryptocurrency to watch is the lowest level recorded last week at $0.40, which is about 35% lower than its current level.