Pi Network (PI) is entering May with mixed technical signals. Momentum indicators point to a strong downtrend, while money flow hints at potential accumulation. The ADX has surged above 50, signaling a powerful bearish trend.
At the same time, the Chaikin Money Flow (CMF) has turned positive for the first time in weeks, suggesting early signs of renewed buying interest. However, with short-term EMAs still trending below long-term ones, PI must hold key support at $0.547 to avoid deeper losses.
Pi Network Enters Strong Downtrend as ADX Spikes Above 50
The DMI (Directional Movement Index) chart for Pi Network reveals a significant shift in trend strength, with the ADX (Average Directional Index) surging to 56.72 from just 10.48 three days ago.
The ADX measures the strength of a trend regardless of its direction, with readings above 25 typically indicating a strong trend.
A reading above 50, as seen now, reflects a very strong trend in play—one that traders often view as dominant and persistent in the short term.
PI DMI. Source: TradingView.
At the same time, the breakdown of directional indicators suggests that the dominant trend is bearish.
The +DI, which measures upward movement, has dropped sharply from 15.88 to 4.61, while the -DI, which tracks downward movement, has climbed significantly from 23 to 45.
This widening gap between the +DI and -DI reinforces the view that Pi Network is in a strong and accelerating downtrend. Unless buying pressure returns soon, the technical indicators suggest further downside may be ahead.
PI CMF Hits Highest Level Since Mid-April
Pi Network’s Chaikin Money Flow (CMF) has climbed to 0.06, up from -0.08 just one day ago, marking its highest level since April 14.
The CMF is a volume-based indicator that measures the flow of money into or out of an asset over a specified period. It ranges between -1 and +1, with values above 0 indicating buying pressure (accumulation) and values below 0 signaling selling pressure (distribution).
Sustained readings in positive territory often suggest that market participants are starting to accumulate the asset.
PI CMF. Source: TradingView.
With PI’s CMF now at 0.06, this shift signals a potential change in sentiment, showing that more capital flows into the token after a period of outflows.
While the level is still relatively low, the move into positive territory and its multi-week high could suggest that bearish momentum is weakening.
If this trend continues and is confirmed by stronger price action or volume, it may increase the likelihood of a short-term recovery or stabilization in Pi’s price.
However, further confirmation will be needed before identifying a clear bullish trend.
Pi Network Faces Key Support Test as EMA Structure Remains Bearish
Pi Network is currently in a bearish technical setup, with its short-term Exponential Moving Averages (EMAs) sitting below the long-term EMAs—a structure that typically signals ongoing downward momentum.
The token has dropped over 12% in the past seven days, reflecting increased selling pressure. If the correction continues, PI may soon test the immediate support level at $0.547.
A breakdown below that could open the door to a deeper decline toward the $0.40 range.
PI Price Analysis. Source: TradingView.
However, if the trend reverses and buyers regain control, PI price could retest the resistance level at $0.665.
A breakout above this threshold may lead to further upside, potentially pushing the price toward the next key resistance at $0.789.
The current EMA alignment still favors bears, but a shift in momentum—confirmed by volume and price action—could change the short-term outlook.