Currently, the market sentiment around the Pi Network (PI) is predominantly pessimistic, with some mixed technical signals enhanced by recent analyses:

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🔻 Sentiment and selling pressures

• A drop of ~35% hit the historical low of $0.40, generating negative sentiment among investors; indicators such as MACD and RSI marking strength in bears .

• High volume and selling pressure were observed during downtrends, with RSI falling below 20 on the 4h timeframe, reinforcing the uncertain and negative scenario.

• Price channel analysis indicates drops of up to 55% in the month, with resistances at levels such as $0.89 and $1.24—clear signs of seller dominance .

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⏸ Consolidation and possible technical turnaround

• Since June 7, the price has remained sideways (~$0.60–$0.64), indicating indecision between buyers and sellers. RSI is close to 41, with no defined momentum .

• The MACD is approaching a bullish cross in some studies (Coinspeaker, BeInCrypto, etc.), which could signal a reversal in the short term Conclusion

Overall sentiment remains negative, with investors on alert for critical support levels. However, consolidation and technical indications point to a possible turnaround in the short term, should an external catalyst occur or a bullish cross confirmation on the MACD.

If you are considering investing now, keep an eye on:

1. Support at $0.60–$0.61 — a drop below may accelerate depreciation.

2. Bullish MACD — the next confirmation may signal buyer entry.

3. Macro catalysts or network events (Pi Day, mainnet advancements).