- Pi Network has fallen to a new all-time low as weak market sentiment and declining trader participation continue to pressure the coin.
- Unless buying interest returns, the price could test the key psychological support at $0.10.
Pi Network has remained under heavy selling pressure after falling to a new all-time low of $0.1120. Weak investor confidence, declining futures activity, and a cautious crypto market have continued to weigh on the coin despite the recent Pi2Day celebrations.
Pi Network Buyers Stay on the Sidelines
Pi Network has extended its losses for a third straight day, showing that buyers have yet to regain confidence. It has dropped to a record low of $0.1120 before attempting to stabilize slightly above that level.
The broader cryptocurrency market has also remained under pressure. Investors have continued to reduce exposure to higher-risk assets, leaving speculative tokens such as Pi Network with limited buying support.
Market sentiment has reflected this cautious approach. The Crypto Fear and Greed Index has fallen to 17, signaling extreme fear among investors. Such conditions often reduce demand for smaller cryptocurrencies and make recoveries more difficult.
Another sign of weakening confidence has come from the futures market. Pi Network’s Open Interest has continued to decline, dropping below $10 million. Lower Open Interest generally suggests that traders are closing positions rather than opening new ones, indicating reduced market participation.
Analysts believe Pi Network may require a major catalyst before demand improves. A listing on a leading cryptocurrency exchange or stronger overall market conditions could help attract fresh interest.
Technical Indicators Continue to Favor Sellers
Pi Network has remained below the $0.1200 level, keeping the short-term trend firmly bearish. After breaking below the previous June low of $0.1184, the token established a new record low at $0.1120.
Several technical indicators have continued to point toward additional weakness. MACD has produced a fresh bearish crossover, suggesting selling pressure remains dominant. At the same time, RSI has slipped to 28, placing the token back in oversold territory.
Although oversold conditions can sometimes lead to a short-term rebound, they do not guarantee that a recovery will happen immediately. Strong selling pressure can keep prices depressed for an extended period.
Pi Network is now testing support near $0.1124. If that level fails to hold, the next major target could be the psychological support at $0.1000.
Can Pi Network Avoid Another Leg Lower?
The coming sessions may prove important for Pi Network. Holding above the current support zone would help prevent another sharp decline.
However, if selling pressure continues and market sentiment remains weak, the token could fall below $0.1000 before finding stronger support. Technical charts also point to a lower support level near $0.0836 if bearish conditions persist.
For now, traders will likely watch both overall crypto market sentiment and any project-related developments that could restore confidence. Until a stronger catalyst emerges, Pi Network may continue facing downside pressure.
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