- The Pi Network’s native cryptocurrency, PI, is facing a steep decline, dropping 25% in the past week due to persistent selling pressure, oversold signals, and a bearish descending triangle pattern.
- While a potential rebound is possible if buying pressure increases, the outlook remains uncertain as PI risks hitting new lows.
The Pi Network’s native cryptocurrency, PI, has seen a dramatic 25% decline in the past week, bringing it dangerously close to its all-time low. This steep drop comes amid persistent selling pressure, waning demand, and a troubling technical setup that suggests further downside potential.
Descending Triangle Pattern and Oversold Signals
PI has been trading within a descending triangle pattern, a bearish formation often signaling continued price drops. This pattern, combined with the Relative Strength Index (RSI) of 26.18, shows the cryptocurrency in oversold territory. Typically, RSI readings below 30 indicate an asset is oversold, suggesting a potential bounce. However, PI’s persistent bearish trend hints that a reversal may not be imminent.
Key Support Levels at Risk
The PI/USD daily chart indicates the token has slipped below the 20-period Exponential Moving Average (EMA), reinforcing the bearish outlook. When a cryptocurrency’s price falls below its EMA, it typically signals a continuation of the downward trend. If PI fails to regain support, its value could slide to $0.62—its all-time low—or even lower if selling pressure intensifies.
Can PI Rebound?
While the current outlook is bleak, a surge in buying pressure could drive PI above the upper trendline of the descending triangle. Such a breakout might see PI rally to $1.53, aligning with the 0.382 Fibonacci level, and potentially $2 at the 0.618 Fibonacci ratio if demand persists.
As Q2 2025 approaches, PI faces a challenging road. Investors should monitor key technical indicators and brace for potential volatility. Whether PI can overcome its bearish momentum remains uncertain, but a strong demand surge could reverse the trend. Until then, caution is warranted for those looking to buy or sell PI.
