- Pi Network drops nearly 7%, falling below $0.20 as mainnet migration increases selling pressure and weakens sentiment.
- Bearish indicators and declining retail interest suggest further downside, with the price at risk of testing lower support levels.
Pi Network continues to face mounting pressure as its price slips below a key level, raising concerns among traders. Despite a major ecosystem update, the market response remains weak, signaling deeper issues with investor confidence.
Pi Network Struggles Despite Mainnet Migration Progress
Pi Network (PI) dropped nearly 7% on Tuesday, extending its losses below the $0.20 mark. The decline comes as the project begins its second phase of mainnet migration, allowing users to transfer tokens from the testnet to the mainnet.
Pi Network is excited to announce that second migrations have started and will continue with a gradual rollout, opening the door for Pioneers to bring additional Pi to Mainnet and further participate in the ecosystem! While second migrations roll out, first migrations for… pic.twitter.com/KyqCMqcoyi
— Pi Network (@PiCoreTeam) March 16, 2026
While this move was expected to boost adoption, it has instead introduced fresh selling pressure. Users can now deposit their tokens on centralized exchanges, allowing long-term holders to take profits. This increased token availability appears to be weighing on the price.
At the same time, uncertainty around Know Your Customer (KYC) processes and delayed communication from the project team continue to affect trust within the community. These concerns have contributed to a noticeable drop in retail participation.
Weak Retail Interest Signals Further Downside Risk
Market data shows that retail engagement around PI is steadily declining. Social activity metrics have dropped significantly, reflecting reduced interest from smaller investors.
This decline in participation is critical for a speculative asset like Pi Network. Lower engagement often leads to reduced demand, which can accelerate price declines. Without renewed interest, the token may struggle to find strong support levels in the near term.
Technical Indicators Point to Bearish Outlook
From a technical perspective, Pi Network is showing clear signs of weakness. The price has fallen below its 50-day Exponential Moving Average (EMA) at $0.1900, a key level that previously acted as support.
Additionally, the broader trend remains negative, with both the 100-day and 200-day EMAs sloping downward. This structure suggests that the overall market direction is still bearish.
Indicators further reinforce this outlook. The Moving Average Convergence Divergence (MACD) has triggered a sell signal, while the Relative Strength Index (RSI) has dropped below the neutral level, indicating fading buying strength.
Can PI Drop Toward $0.15?
If Pi Network closes below the $0.1900 level, further losses could follow. The next major support sits near $0.1556, which was last tested in late February.
However, a recovery above $0.1900 could stabilize the price temporarily, potentially leading to sideways movement below the $0.20 range.
For now, Pi Network remains under pressure, with both technical signals and market sentiment suggesting that the downside risk has not yet faded.
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