Pi Network at a turning point: technical analysis indicates further challenges for the price

Pi Network (PI) – what is it and where does it stand today? This token, which once reached ambitious heights, is currently struggling with a serious trust crisis. The current price has risen to around 0.21 USD, representing nearly a complete erosion of value from its all-time high of 3.00 USD. The market capitalization hovers around 1.75 billion USD, while trading activity amounts to 721.88 thousand USD per day.

Where is the price heading? Technical signals are clear

Looking at the Pi price chart reveals one dominant pattern: consistent declines within the prevailing trading range. The token moves within a defined downtrend zone, with the directional indicator clearly favoring sellers. The -DMI index remains significantly higher than +DMI, confirming that selling pressure remains the main driver of price movements.

For short-term oscillation observers, the 0.22–0.24 USD zone represents an area where a potential rebound could occur. However, the lack of effective defense at the 0.21 USD level opens the door to further retracement toward the critical support around 0.20 USD. The real test of buyer strength awaits at the Fibonacci 0.618 level, situated just below 0.25 USD – here, every attempt to rise faces increased selling pressure.

Price distribution and capital flow

The Pi market is currently undergoing a phase of strengthening seller positions. While the price oscillates, institutional market participants are withdrawing their holdings, gradually transferring value. This distribution phase typically precedes subsequent declines, especially as buying momentum weakens on each rebound.

Recent attempts to break resistance at higher timeframes have failed. The bearish engulfing candle pattern suggests that buyers could not sustain the upward pace. This is a classic scenario indicating dominance of the bears.

Long-term outlook: still pessimistic

Historically, Pi Network has lost nearly 92% of its value from its peak. Such a scale of decline is hard to justify solely by market changes – it points to fundamental challenges related to the project’s perception and market position.

Despite this, part of the Pi community remains optimistic. Project supporters argue that the future of the token lies in transforming Pi into a seamless payment tool within the Web3 model – something akin to “Apple Pay” for blockchain. With a user base of over 60 million, an integrated identity verification system (KYC), and a growing ecosystem of applications, the project has an infrastructural foundation. If it can deliver a simple, one-click transaction experience, it could theoretically compete with traditional payment solutions.

What scenario lies ahead?

In the long term, Pi remains trapped in a bearish grip. The next key level is around 0.1919 USD – this will be the last line of defense before a possible break to new lows. The lack of a clear trend reversal signal suggests that investors should stay alert, regardless of long-term optimism regarding the project’s use case.