The altcoin recorded a drop of over 8.5% in the last seven days, trading below $0.65 for six consecutive days. Today (2), the price fell below $0.60, maintaining a weakened trend, with price action limited below the Ichimoku Cloud.
The RSI of PI briefly rose above 50 but fell back to 45, showing a weakening of bullish momentum. The EMAs are still in a downward trend. It is hovering just above a key support, and the next move may decide between a deeper drop or a possible recovery.
Pi Network faces bearish pressure below the Ichimoku cloud
The Pi Network is still trading below the Ichimoku Cloud, signaling an overall bearish market structure. However, a potential change may be developing, as the blue Tenkan-sen line (conversion line) recently crossed above the red Kijun-sen line (base line).
This crossover is often seen as an initial signal of bullishness, especially if confirmed by an increase in volume or a move into the cloud.
Despite this, the future cloud remains red, indicating ongoing resistance ahead and signaling that the broader trend is still under pressure.
PI Ichimoku Cloud. Source: TradingView.
The Chikou Span (lagging line) is still below both the price candles and the cloud. This means that any upward movement has not yet been confirmed.
For a significant trend reversal, PI must break the cloud upwards, with the price entering and sustaining above it. Additionally, the future cloud must turn green, with all Ichimoku indicators aligned optimistically.
Currently, the scenario shows indecision. There is a short-term bullish crossover, but the price is still below the cloud, and the broader trend remains bearish.
Momentum of the Pi Network slows down and RSI falls below 50
The RSI of the Pi Network is currently at 45.41, declining after a strong rally from 28.49 to 54.40 two days ago. This indicates a slowdown in momentum after a brief recovery period.
The retracement from above 50 suggests that buying pressure has weakened, and PI is entering a more neutral zone, where neither buyers nor sellers are in full control. The quick reversal also reflects uncertainty in the current price trend.
PI RSI. Source: TradingView.
The Relative Strength Index (RSI) is a momentum oscillator that ranges from 0 to 100, commonly used to identify overbought or oversold conditions.
Readings above 70 suggest that an asset may be overbought and about to correct, while readings below 30 indicate oversold conditions and potential for a bounce. Values between 30 and 70 are considered neutral, with 50 as the key pivot point.
The current RSI of PI at 45.41 is below this threshold, suggesting a slight downward tilt unless the indicator rises again. If the index continues to fall, it may reflect increasing selling pressure and a risk of further price weakness.
Pi Network oscillates near key support with bearish EMAs
The price of PI is trading just above a key support at $0.59, with bearish pressure accumulating. If this level is tested and broken, the next important supports are at $0.547 and $0.40, potentially exposing the token to a deeper correction.
PI Price Analysis. Source: TradingView.
The Exponential Moving Averages (EMAs) remain in a bearish alignment, with short-term EMAs positioned below long-term ones. This structure generally signals that the broader trend is still bearish.
However, if the trend reverses and buyers enter, PI could rise to test resistance at $0.648, followed by $0.682.
A breakout above both – especially if supported by volume and a bullish EMA crossover – could push the price towards $0.789, signaling a shift to a more sustained bullish trend.
The Pi Network article falls again after a brief rally, what comes next? was first seen on BeInCrypto Brazil.
