Pi Network launched its token on exchanges in February, and excitement surrounding the token was immense. The price reached highs of around $3.0 within that same month. However, after an initial surge, PI coin has been caught in a downward trend, losing over 90% of its value. Currently hovering near $0.20, many are questioning whether a market reversal is on the horizon or if this is merely a pause before further declines. The price action suggests a glimmer of hope for buyers as they have displayed some resilience around the $0.20 support level. This zone has proven significant, triggering a 5% intraday bounce on October 21st, indicating potential accumulation by bulls.