Key Takeaways
- PI has fallen 2% in the past 24 hours and could drop below $0.22 if the bearish trend continues.
- Technical outlook points to near-term downside risk.
PI may slide further amid weakening technicals
Pi Network (PI) has shown weak performance over the past three days and is at risk of slipping beneath a critical trendline support. On-chain data indicates rising supply pressure as centralized exchanges (CEXs) have seen a surge in inflows.
Data from PiScan reveals that verified CEX deposits associated with Pi Network totaled 2.75 million PI tokens in the last 24 hours, significantly outpacing withdrawals of 1.76 million PI. This net inflow to CEXs suggests that some holders may be moving tokens to exchanges to sell, adding downward pressure on price.
Will Pi Network fall below the $0.22 support line?
The 4-hour PI/USD chart shows a bearish and efficient downtrend, with PI losing roughly 2% of its value over the previous day. The price is retesting a local trendline support formed by the October 22 and November 4 lows.
At the time of writing, PI is trading around $0.2267 and remains in a bearish posture. Technical indicators reinforce the downside bias: the Relative Strength Index (RSI) sits near 37, pointing toward potential entry into oversold territory if selling continues, while the MACD line also remains in bearish territory.
If selling pressure persists, PI could breach Monday’s low of $0.2204, with the next key support near $0.1919. A sustained drop below these levels would reinforce the bearish case and likely extend the short-term decline.
Conversely, if buyers regain control, PI could reclaim last week’s high at $0.2841. A convincing bullish breakout beyond that level would open the door to the August 1 low-turned-resistance around $0.3220 as the next upside target.
For now, market conditions remain tilted toward the downside, and PI is expected to face headwinds over the coming days unless buying momentum returns.