Pi Network, the cryptocurrency once lauded for its novel mobile-mining model, is now facing growing technical pressure and investor caution. Recent price action and on-chain indicators point to a cooling outlook as traders reassess risk exposure.
The token lost a key support level and is currently trading around $0.67, down from $0.71 a day earlier. That breach signals increasing downside pressure in the near term and reflects a weakening sentiment among holders.
The price trajectory for Pi has shifted noticeably lower over recent sessions, with several technical measures now confirming a persistent bearish bias. This comes as broader altcoin markets face thinner liquidity and reduced risk appetite, a backdrop that tends to exacerbate declines for mid-cap tokens like Pi Network.
CMF points to sustained selling pressure
A prominent signal reinforcing the current outlook is the Chaikin Money Flow (CMF) sliding just below the zero line. This indicates that selling volume is beginning to outweigh buying volume, a change that, while still close to neutral, reflects eroding market confidence.
That subtle shift is meaningful: traders appear increasingly cautious, and many may be locking in gains or reducing exposure ahead of further downside. When outflows overshadow inflows on a consistent basis, it often presages continued markdowns. In Pi’s case, that risk has become more pronounced.
The outflow trend may also reflect doubts about Pi Network’s longer-term adoption, particularly as new utility-focused tokens and larger-cap cryptocurrencies dominate market attention and capital.
Compression indicator signals breakout risk
Another notable technical cue is the momentum compression indicator, which shows Pi in a low-volatility “squeeze.” On charts, this phase is marked by black dots that denote price compression; historically, squeezes are followed by a decisive directional breakout.
Currently, the squeeze appears to be building in a bearish direction. If volatility returns, the likely outcome could be a sharp move downward rather than an upside breakout. That view is supported by a series of lower highs and repeated failures to hold previous support zones.
Blue dots on the indicator—signaling a release to the upside—have not appeared, suggesting the potential breakout move remains on the downside. Short-term traders and holders will monitor for any sign of release, since a confirmed squeeze exit could trigger a rapid sell-off and test new lows.
Local support at $0.61, downside risk persists
With the price near $0.67, immediate support is located at $0.61. While this level could provide temporary relief, a decisive break below it would likely open the door to further losses toward $0.57. Such a fall would represent roughly a 15% drop from current levels and would deepen the token’s downtrend, undermining holder confidence.
On the flip side, reclaiming $0.71 would mark the first step toward invalidating the bearish thesis for Pi Network. A sustained move above $0.78 would generate a higher high and could shift momentum back toward buyers. Given current indicators, however, that scenario remains uncertain.
Longer-term prospects for Pi Network will hinge on the real-world utility it can deliver and broader market conditions. For now, price action and volume flows suggest caution should dominate investor behavior as the market digests the recent shift in dynamics.