Recently, Pi Network (PI) has been caught in a prolonged downtrend as investor sentiment turns increasingly negative. The broader market’s weakening momentum, coupled with declining confidence in PI, has made it difficult for the token to regain strength, raising concerns that its price could fall below the critical $0.60 support level.
Bearish Sentiment Dominates
The Relative Strength Index (RSI) for Pi Network has remained below the neutral zone since late May and continues to slide further into bearish territory. This indicates growing selling pressure and a lack of buying interest.
The persistent bearish RSI suggests that the market lacks momentum for a rebound. Investors appear hesitant and more inclined to sell than to hold or buy, which intensifies the downward pressure on PI.
Moreover, confidence in Pi Network’s long-term outlook remains unstable, causing investors to waver. Faced with uncertainty, many may opt to sell to minimize losses, further contributing to the declining price trend.
Price Faces Potential Breakdown
Currently, Pi Network is trading around $0.63, slightly above the key $0.61 support level. This zone is critical—if it holds, PI may see a short-term recovery.
However, if the price breaks below $0.61, it could quickly drop to $0.57. Such a decline would not only extend losses but also deepen bearish sentiment, potentially pushing PI into a steeper downtrend.
On the other hand, a successful rebound from $0.61 and renewed buying pressure could lift the price back to $0.71. This would temporarily invalidate the bearish outlook and hint at a shift in momentum.
In short, Pi Network is at a pivotal moment. While a bounce is possible if support holds, the prevailing bearish mood means the token remains vulnerable to further losses if confidence doesn’t return.
