- Pi Network holds $0.0704 support as rising market fear weighs on PI.
- A July resistance trendline continues to block price recovery.
Pi Network (PI) is trading near $0.0750 after recording three consecutive daily losses, with broader crypto market uncertainty putting pressure on its recovery attempt. PI is holding above a key support level, but a declining resistance trendline continues to limit upward movement.
Market sentiment has weakened following reports of a $6.3 billion Binance hack, adding to selling pressure across the cryptocurrency market. The Fear and Greed Index has fallen to 34 from 45 last week, reflecting growing caution among investors.
Crypto Market Fear Adds Pressure on Pi Network
The decline in market sentiment is affecting major cryptocurrencies and smaller speculative tokens, including Pi Network. Data from Santiment shows that bullish comments about Bitcoin and XRP have fallen below bearish comments, with their bullish-to-bearish ratios standing at 0.69 and 0.61, respectively. Ethereum has a slightly stronger ratio of 1.14.
🚨 Crypto Sentiment Sinks As Fear Creates Contrarian Opportunity
😨 Sentiment around Bitcoin, Ethereum, XRP and other top caps has steadily weakened for nearly two months. The Binance hack predictably accelerated crypto’s sentiment downfall, causing bullish commentary to collapse as prices have fallen and fear has spread across the market.
📉 BTC now has just 0.69 bullish comments for every bearish one, while XRP sits near 0.61. ETH is healthier around 1.14, but enthusiasm has still fallen sharply from September. These ratios reveal when retail traders become unusually confident or fearful. And right now, it’s undeniable how much fear has swept over the community.
🔄 Historically, despite the unprecedented circumstances with the community still reeling from crypto’s largest ever hack, the darkest sentiment periods often create the strongest contrarian opportunities once panic has time to settle.
📊 If BTC and XRP sentiment stays below 1.0 while prices stop making new lows, keep an eye out for a likely eventual mid-term relief rally. Extreme fear alone does not mark the exact bottom, but fear plus price stabilization has often been a much stronger signal.
🔗 Link to Our Live BTC, ETH, XRP Sentiment Chart: https://t.co/6kF38onR47
— Santiment Intelligence (@SantimentData) November 2, 2026
The figures suggest that negative sentiment is spreading across the market as investors become more cautious. If the Fear and Greed Index drops below 20 or bullish-to-bearish ratios remain below 1, market conditions could move further into extreme fear.
However, periods of extreme fear can sometimes create opportunities for a recovery once selling pressure begins to ease. For PI, a sustained improvement in market sentiment could help support a rebound, although the token still needs to overcome key technical resistance levels.
PI Price Forecast: Can Buyers Defend the $0.0704 Support?
Pi Network remains under pressure on the daily chart, trading below a descending resistance trendline that has restricted price advances since July 20. The trendline currently sits around $0.0784, making it an important level for buyers to reclaim.
The 50-day EMA at $0.0825 adds another resistance barrier. A sustained move above this zone could strengthen the recovery outlook and open the way toward $0.1049, which represents the 50% Fibonacci retracement level of the decline from $0.1394 to $0.0704.
Momentum indicators offer a mixed picture. The MACD remains above its signal line but is still in negative territory, suggesting that buying momentum is improving without confirming a bullish trend reversal. Meanwhile, the RSI is near 39, indicating that selling pressure remains present but is relatively moderate.
On the downside, the October 15 low of $0.0740 represents the first support level to watch. A break below this area could expose PI to further losses toward $0.0704, a key Fibonacci cycle low that could attract stronger buying interest.
For now, Pi Network remains caught between weakening market sentiment and signs of improving momentum. Holding above $0.0704 could give buyers a chance to rebuild momentum, but a stronger recovery will depend on breaking the $0.0784 resistance trendline and moving above the 50-day EMA.
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