What is next for PI after another weekly close in the red
It is safe to say that the launch of the original token for the Pi Network has faced quite a few obstacles, as the asset peaked at less than $3.00 just days after officially starting trading but has since dropped by more than 93% in the following months to a record low of $0.172 at the end of last week.
Despite trying to regain some strength in the following days, the overall market correction on Friday caused it to drop again, and it is currently struggling to stay above $0.20. Here are ChatGPT, Grok, and Gemini's forecasts for the coin's performance next week.
What is next for PI?
From being among the top 20 altcoins by market cap to barely staying within the top 80 coins, PI has seen its fair share of price collapses. Unfortunately for the Pi Network investor base, the three AI systems did not predict the asset's performance in the following seven days. However, this may not be entirely its fault, as the entire market has been struggling for over a week.
Regarding technical indicators, Grok noted that the first line of defense for PI's stock is its all-time low of around $0.17-$0.18. If this support is breached, there will be no historical levels to support it on its downward path. On the positive side, he pointed out that the Relative Strength Index (RSI) is in an oversold condition (well below 30), which could lead to a "temporary increase".
However, PI needs more buying volume, as the current weak levels show a "decrease in speculative interest". According to Gemini, PI cannot start a stronger recovery unless it regains the key resistance areas at $0.22 and $0.24, where it was rejected earlier this week.
