- Pi Network faces further losses as social interest falls to a six-month low and bearish indicators remain in control.
- A break below $0.0774 could push PI toward its record low of $0.0704.
Pi Network (PI) is facing renewed selling pressure as its price slips below a key support level and interest in the cryptocurrency fades. With bearish technical signals still in place, PI could revisit its record low of $0.0704 if sellers push the price lower.
Pi Network Social Interest Falls to a Six-Month Low
Interest in Pi Network is declining across online crypto discussions, adding to concerns about the token’s price outlook. PI’s social dominance fell to 0.03% on Monday, its lowest level in six months, while its social volume dropped to 2.
These figures suggest that Pi Network is receiving less attention from the crypto community. Lower social activity can weaken speculative demand, making it harder for a token to attract new buying interest during a market downturn.
The decline in social interest comes as PI struggles to hold its recent price levels. Without a stronger recovery in demand, the token could remain under pressure.
PI Price Remains Below Key Resistance Levels
Pi Network was trading around $0.0772 on Tuesday, extending its losses from the previous session. The price remains below the $0.0774 support level, which was the low recorded on October 8.
PI is also trading below its descending resistance trendline near $0.0838. This trendline connects the highs recorded on June 20 and August 22, highlighting the broader downtrend.
It remains below its 50-period EMA at $0.0862 and its 200-period EMA at $0.1221. Trading below these indicators points to continued weakness in the market.
Momentum indicators also favor sellers. The RSI is near 35, Indicating weak buying momentum, while the MACD remains in negative territory. Together, these signals suggest that PI has yet to establish a convincing recovery.
Can Pi Network Fall to Its Record Low of $0.0704?
The $0.0774 level is a key price to watch. If PI confirms a break below this support, the next major downside target is its record low of $0.0704.
A drop to that level would put Pi Network close to a critical point in its price history. If the token falls below $0.0704, it could enter new downside price discovery, leaving traders with limited historical price levels to assess potential support. However, a recovery remains possible if buyers return and push the price higher.
PI Recovery Faces Resistance at $0.0838
For Pi Network to improve its short-term outlook, the price would first need to break above resistance near $0.0838. Such a move would challenge the descending trendline that has kept the broader trend bearish.
Beyond that level, PI faces resistance at $0.0862, where the 50-period EMA sits. The 23.6% Fibonacci retracement level at $0.0867 adds another barrier to a sustained recovery.
If buying pressure strengthens further, the next important resistance lies at $0.1049, corresponding to the 50% Fibonacci retracement level. The 200-day EMA at $0.1221 remains a more distant hurdle.
Until PI breaks through these resistance levels, the broader price outlook remains weak.
Pi Network Price Outlook
Pi Network faces a difficult setup as falling social interest combines with persistent selling pressure. A confirmed break below $0.0774 could expose PI to another test of its $0.0704 record low.
For now, traders will be watching whether the token can hold above support or regain ground above $0.0838. A break in either direction could help determine PI’s next major price move.
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