- The price of Pi Network plunged to a record low of $0.22 as cryptocurrencies suffered from widespread profit-taking.
- Bulls are eyeing a buy-the-dip opportunity and may push for a rebound toward $0.50.
- Technical indicators send mixed signals, highlighting a market caught between indecision and opportunity.
Pi Network extended its losses on Tuesday, with the price tumbling to a fresh low of $0.22.
However, bulls registered a small intraday bounce, suggesting the sell-off could present a notable buy-the-dip opportunity for those looking to accumulate.
After several turbulent days for crypto, market sentiment has tilted somewhat bearish. The question now is whether PI can bounce in the coming months as broader market conditions potentially improve.
Pi price hits record low
PI is changing hands at roughly $0.28, up nearly 4% over the past 24 hours.
Although this marks a modest recovery from the $0.22 record low, the altcoin remains about 20% lower over the past week.
The sharp sell-off on September 23, 2025, when PI plunged from a $0.36 peak, also factors into the bearish narrative: the token has fallen roughly 90% from its record high of $2.98 reached in February 2025.
At present, PI trades below the key support zone near $0.30.
With price ticking higher even as daily trading volume has dropped about 16%, there is a chance sentiment could begin to shift.
Downward pressure intensified after a recent token unlock released 160 million PI tokens into circulation.
The sudden increase in supply weighed heavily on the price.
Macro headwinds compounded the weakness, as panic selling among risk assets amplified bearish momentum.
Some analysts, however, believe the weakness in September could give way to a stronger October.
“The tone has shifted from panic to recalibration,” noted QCP Group. “The Fed’s 25 basis point cut reopened the easing path, though the dot plot suggested measured dovishness. Long-term yields rose while equities hit fresh highs and gold briefly topped $3.7k.”
Is the PI price poised for a breakout recovery?
Short-term technicals are mixed. The relative strength index (RSI) for PI is hovering near oversold territory.
An RSI settling near oversold levels implies a potential short-term recovery could be on the horizon.
The daily RSI has started to edge up from the oversold zone, and if buying pressure builds, a reversal in this indicator could point toward gains up to $0.50.
PI price chart by TradingView
At the same time, the moving average convergence divergence (MACD) indicator is showing a bearish crossover, signaling that meaningful upside would likely require bulls to reclaim the critical $0.30 level and follow through with buying.
A breakout above resistance at $0.35 could open the path toward $0.50, but failure to hold current levels might see PI revisit $0.22, exposing bulls to further pain.
Near-term drivers to watch include ongoing profit-taking and market volatility, while longer-term outlook will depend on whale accumulation, network growth, and recovery in broader market conditions.