Pi Network's PI token is attempting to hold above the $0.10 psychological level, but low trading volumes and persistent bearish technical signals suggest the support may be fragile. The token has posted six consecutive weekly losses, falling roughly 10% over the past week, and remains under pressure despite a modest intraday gain.
Volume Deterioration Undermines Recovery Attempts
PI is currently trading near $0.1292, up less than 1% in the last 24 hours. However, trading activity has steadily declined, with volume spikes that previously accompanied short-term rebounds becoming weaker over the past year. This pattern indicates that buyer demand is insufficient to absorb ongoing selling pressure.
Declining volume during a downtrend typically reflects waning retail participation and weakening market conviction, making sustained recoveries more difficult. The recent selloff pushed PI to a new low of approximately $0.1184 on Saturday, highlighting the persistent lack of liquidity. Without a meaningful increase in trading activity, the token remains vulnerable to broader risk-off conditions and additional downside.
Technical Indicators Remain Bearish
The 4-hour chart for PI/USD continues to show a bearish structure. The token is trading below all three key exponential moving averages: the 50-day EMA at $0.1549, the 100-day EMA at $0.1676, and the 200-day EMA at $0.2142. A descending resistance trendline formed from the March and April highs continues to cap any upside moves.
The Relative Strength Index (RSI) is hovering near 50, just below neutral territory, suggesting downside momentum remains intact despite the possibility of short-term relief rallies. Meanwhile, the Moving Average Convergence Divergence (MACD) remains deeply negative, confirming continued selling pressure.
Key Support and Resistance Levels
- Immediate support: $0.1184 (recent low). A break below this level could expose PI to the next major zone at $0.1124 and potentially fresh all-time lows.
- Immediate resistance: $0.1305. A decisive break above this level could open the path toward $0.1478 and the 50-day EMA at $0.1549.
Unless demand returns and volume improves meaningfully, the token may remain vulnerable to further downside in the near term. The broader market context, including recent developments in DeFi integration and institutional trading trends, has done little to shift sentiment toward PI.
This article is for informational purposes only and does not constitute financial advice.
