Pi Coin Faces Downtrend Pressure Amid Weak Buyer Support
Pi Network (PI) is once again flirting with a decisive breakdown below the $1 level, trading at $0.94 at the time of writing. The latest price action shows mounting weakness, with technical indicators flashing bearish warnings across multiple timeframes.
The token, which briefly soared above $3 in early March, has since given up more than 65% of its gains, reflecting fading momentum and growing skepticism about its long-term tokenomics. Despite its vocal community, Pi remains unlisted on major exchanges, and current prices are based on speculative IOU contracts, adding further risk for retail buyers.
Technical Analysis: Breakdown Below $1 Could Trigger Panic
- Current Price: $0.9429
- Resistance Levels: $1.23 (failed breakout), $1.62
- Support Levels: $0.88 (minor), $0.74 (major swing low)
The chart shows a steep descending channel with no signs of bullish reversal. The MACD remains in deep negative territory, while the RSI has dropped to 43.7, indicating weakening momentum and no sign of oversold bounce.
The failure to break above $1.23 last week confirmed seller dominance, and the continued rejection at lower highs suggests the downtrend is firmly intact. If $0.88 support fails, a rapid drop toward $0.74 is likely.
Outlook: Sentiment Slips as PI Hype Fades
Without a concrete update from the Pi core team on mainnet launch or exchange listings, speculative demand continues to dry up. With momentum fading and support levels weakening, Pi Coin may struggle to hold above $1 — and a breakdown could accelerate retail exit.
The post Pi Network Coin Slides Below $1, Eyes Fresh Lows Amid Bearish Pressure appeared first in UK on InvestingCube.