Key Points
- PI has fallen 2% in the past 24 hours and could slip below $0.22 if the bearish trend continues.
- Technical outlook points to short-term downside risk.
PI could decline further amid weak technicals
Pi Network (PI) has underperformed over the past three days and faces the risk of breaking a key support trendline. On-chain data show rising supply pressure while centralised exchanges (CEX) are seeing increased inflows.
Data from PiScan indicate that user deposits via Pi Network–verified Know Your Business (KYB) CEXs totaled 2.75 million PI tokens in the last 24 hours. Deposits notably exceeded withdrawals of 1.76 million tokens, resulting in a net daily inflow to CEXs and suggesting that some holders may be moving to sell.
Will Pi Network fall below the $0.22 support line?
The 4-hour PI/USD chart is bearish as PI lost 2% of its value in the last 24 hours. The token is retesting a local support trendline formed by the October 22 and November 4 lows.
At the time of writing, PI trades at $0.2267 and remains in a downtrend. Technical indicators are negative, signaling potential further downside. The RSI sits near 37, indicating PI is approaching oversold territory if the drop continues. The MACD lines also remain in bearish territory.
If the bearish momentum persists, PI could trade below Monday’s low of $0.2204, with the next meaningful support near $0.1919.
Conversely, if bulls regain control, PI could reclaim last week’s high at $0.2841. A sustained rally might push PI toward the August 1 low-turned-resistance at $0.3220.
Overall market conditions remain skewed to the downside, and PI is expected to struggle in the coming days unless sentiment shifts.