The Pi Network (PI) token has fallen sharply, trading at $0.0857 after a 5.8% decline over the past 24 hours, marking its lowest level in months. The drop pushed PI below the key psychological support of $0.10, with intraday lows reaching $0.0850 on trading volumes of 38.18 million PI.
The latest sell-off extends PI’s multi-day losing streak and reinforces a persistent downtrend characterized by lower highs and lower lows. Analysts attribute the decline to a confluence of fundamental and technical headwinds.
One major factor is the ongoing token unlocks, which continue to increase circulating supply without corresponding demand. This imbalance has intensified selling pressure as newly eligible holders offload their tokens. Compounding the issue, PI remains listed on only a limited number of exchanges and lacks widespread ecosystem adoption, undermining investor confidence.
Technically, PI’s breakdown below $0.10 has triggered additional bearish momentum. The rejection from the upper boundary of a descending wedge pattern signaled strong seller dominance, while increased trading volume during the decline suggests institutional or large-player involvement rather than isolated retail activity.
The Relative Strength Index (RSI) has dropped to its lowest level since the start of the year, though no bullish divergence has emerged yet. Historically, such oversold conditions have preceded rebounds—but for now, the trend remains firmly bearish.
From an order-flow perspective, the $0.104–$0.109 range now acts as a bearish order block, likely capping any short-term relief rallies with fresh supply.
Looking ahead, bulls must first reclaim the $0.10 level and then break above the $0.104–$0.109 resistance zone to signal a potential reversal. A successful move beyond this area could target $0.145–$0.150, with a decisive close above $0.166 needed to shift the broader market structure.
Conversely, if PI fails to hold the $0.080–$0.082 support zone, it risks accelerating toward new all-time lows. Until clear signs of accumulation and strong volume-backed breakouts emerge, traders are advised to treat any bounce as a temporary relief rally within a continuing downtrend.