Pi Coin has seen a sharp decline over the past two days, erasing the recovery gains made earlier this week. The volatility is attributed to uncertainty surrounding Pi2Day, a key event for the Pi Network. 

As investors react to the developments, Pi Coin’s price action remains unstable, and its future trajectory depends heavily on the event’s outcome.

Pi Network Prepares for Pi2Day

The Relative Strength Index (RSI) indicates that Pi Coin’s momentum is currently bearish.

After a brief attempt at recovery this week, the RSI failed to secure a position above the neutral mark, confirming the lack of strong buying pressure.

This suggests that investor sentiment has shifted, with the market showing signs of uncertainty.

The broader market cues are mixed, with some signals pointing toward weakness.

Panic selling seems to be driving the negative momentum, as investors appear to be reacting to the uncertainty leading up to Pi2Day.

Despite the recent price declines, the overall investor sentiment for Pi Coin appears surprisingly positive.