Pi Network (PI) trades around $0.0750 at press time on Tuesday, after three straight bearish daily closes amid intense headwinds. The broader cryptocurrency market is seeing weakening social sentiment following the $6.3 billion Binance hack, weighing on speculative tokens. The technical outlook for Pi Network is mixed, as the price defends a near-term support but remains capped below a long-term overhead resistance trendline. 

Broader market fear weighs on PI

The $6.3 billion Binance hack accelerated the decline in social sentiment in the broader crypto market. CoinMarketCap’s Fear and Greed Index is down to 34 on Tuesday from 45 last week, suggesting that fear is sinking into investors’ sentiment. 

Santiment data shows that bullish…