PI fell 10% this week. Can the key support hold?
PI Network (PI) Price Outlook: Technical Analysis
Key support levels: $0.13, $0.10
Key resistance levels: $0.16, $0.20
Market Drop Pushes PI to Critical Support
This week PI registered a new low after a 10% decline, bringing the price down to the important $0.13 support area. Buyers have appeared at that level, but the overall bias remains bearish as selling volume has risen over recent days.
Because the price formed a lower low, the downtrend is still intact and could extend further. Confirmation of continued weakness would come if the $0.13 level flips and acts as resistance.
Sellers in Control
On the 3-day chart, sellers have dominated for eight consecutive candles, driving the price about 30% lower from recent highs. This sharp decline accelerated after the $0.16 support failed to hold.
If $0.13 later becomes resistance, a similar selling wave could unfold, accelerating the downtrend and creating new lows. In that scenario the next notable downside target would be $0.10.
Daily RSI Shows Oversold Conditions
The recent sell-off has pushed the daily Relative Strength Index (RSI) into oversold territory, below the 30 level. At the time of writing the RSI sits near 25, with no clear reversal signals yet and the potential for further declines.
However, such oversold readings also suggest sellers may be overextended and increase the likelihood of a bounce or relief rally. The $0.13 area is the key level to monitor: if it holds as support, buyers could regain control and offer an opportunity for a recovery move.