The price of Pi Network (PI) is showing signs of recovery, but structural optimism remains absent. Despite a strong rebound with high trading volume, the overall trend is still downward, driven by ongoing selling pressure and negative market signals. The big question now is: What can we realistically expect from PI in the near future, given the current levels of volatility?
Failed Breakout: Bears Still in Control
Over the weekend, the PI Network skyrocketed nearly 100% within just six hours — jumping from $0.40 to a temporary high of $0.80. However, this breakout was short-lived. The price failed to hold above the critical resistance level of $0.73, which represents the last lower high — a key level that still stands in the way of a potential trend reversal.
Shortly after the spike, selling pressure returned, pushing the price back down to the current level of around $0.55. This sharp retreat is a clear indication that bearish forces continue to dominate. While a sideways consolidation between $0.55 and $0.75 is possible, the ongoing capital flight poses a serious threat to the stability of this range.
Capital Outflows and Weak Fundamental Support
The Chaikin Money Flow (CMF) indicator has remained below -0.05 for several days, signaling significant capital outflows from the PI market. This lack of inflow volume makes it difficult to form a sustainable price bottom.
On a more positive note, the Relative Strength Index (RSI) has risen above the neutral level of 50, offering a first sign of potential positive momentum. However, a strong wave of buying interest has yet to materialize. Without clear evidence of bottom formation, the risk of a continued downtrend remains elevated.
Key Resistance Levels in Focus
Last month, analysts already pointed to the $0.63 level as a critical zone for PI’s future trajectory. Previously acting as a local bottom, this level was viewed as a possible turning point. But over the weekend, the price broke below this zone and has since retested it as a new resistance area.
This shift further underscores the fragility of bullish sentiment, making it increasingly important for investors to monitor key price action closely. Until stronger fundamentals or bullish volume enters the market, caution remains the name of the game for PI holders and traders alike.
