Pi coin continues its downward trajectory, closing another red candlestick today, bringing the total to six consecutive bearish days. This decline coincides with a weaker performance in other cryptocurrencies, notably as Bitcoin price grazes the lower end of recent ranges. 24 hours after we predicted a break below the $0.66 support level would trigger further downside pressure, the coin indeed dipped towards the $0.6 region, ultimately closing at $0.61. Momentum remains bearish, with potential support levels around $0.58 and possibly even $0.54 should this trend continue. 24-hour time frame: On the upside, if the market sees a brief bounce or relief rally, we could see resistance around the former support zone of $0.65, which might now flip to resistance. The broader picture for Pi Network hasn’t been positive lately. The project is still in limbo regarding official mainnet progress and a general bearish sentiment has dragged down PI price further. 48-hour time frame: Technical indicators are showing a bearish trend on the 5-hour chart, with most of them flashing sell or oversold signals. Name Value Explanation RSI(14) 19.591 – shows PI coin is heavily oversold and may be due for a small bounce. STOCH(9,6) 34.212 – still under pressure, not yet in bullish reversal territory. MACD(12,26) -0.036 – Indicates strong bearish momentum building for Pi Network price. ADX(14) 53.926 – Shows the current downtrend is strong and likely to continue. Williams %R -94.213 – Deeply oversold, suggesting the coin is undervalued in the short term. ATR(14) 0.0257 – This tells us that price swings are large today, showing high volatility. Highs/Lows(14) -0.0687 – Indicates the coin is making lower lows, confirming a bearish trend. Ultimate Oscillator 27.05 – Another oversold signal, showing downward exhaustion may be near. Looking at technical indicators, Pi coin is undeniably under pressure. Yet, extreme low RSI and Williams %R values suggest even though sellers are in control, the coin might be nearing a short-term rebound phase. This depends on whether Bitcoin finds support or continues to decline. Moving Averages: Moving averages provide a clear narrative for Pi’s price movement right now. Short- and long-term moving averages across all levels show a bearish signal, suggesting continued selling pressure. 50-day average is around $0.75, while the 100-day average stays up at $0.83. With the current price near $0.61, this shows that the coin has lost strength over both medium and long terms. Until Pi coin breaks above these moving averages, a sustained recovery looks difficult to achieve. Price Scenarios: Based on everything we’ve seen from the charts and indicators, here are possible price scenarios for Pi Network today. Bearish Scenario: If selling pressure persists, PI could fall below $0.60 and test support at $0.58. In a more extreme case, it might drop even further to $0.54. Neutral Scenario: If the market remains sideways, we could see Pi coin hold around the current $0.61 level, consolidating between $0.60 and $0.63 as traders await stronger signals. Bullish Scenario: If Bitcoin stabilizes and Pi finds support from oversold conditions, a bounce toward $0.65 might occur. However, unless it breaks and holds above this level, any move up would be just temporary relief. 48-hour time frame: For now, the bias remains bearish, but oversold readings suggest a short-term bounce could be near. Keep an eye on the $0.60 level today. Stay tuned for updates on cryptocurrency markets and technical analysis on our social media channels and website.