The Pi Network (PI) token is currently facing strong bearish momentum as it continues to chart lower lows. Pi Coin has failed to establish a solid support floor, and its recent activity hints at a looming breakdown. With the hype surrounding the coin seemingly fading, investors are growing increasingly cautious.
On the OKX exchange, PI price is down by 1.72% in the last 24 hours, trading at around $0.4642. The coin peaked back in March and has since been on a consistent downward trajectory. Repeated rejection at the $0.5155 resistance level shows that sellers are still dominating this market phase.
Despite a slight increase in CEX inflows — particularly on exchanges like Bitget, MEXC, and Gate.io — these may signal upcoming sell-offs rather than bullish accumulation. Rising balances in CEX wallets suggest that more holders are moving tokens with the intention to sell.
From a technical standpoint, the Relative Strength Index (RSI) sits at 38.66, inching closer to the oversold territory. This suggests that while some bullish pressure exists, it is too weak to shift the current momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) also paints a neutral-to-bearish picture, with both lines staying below the zero mark.
If the bearish trend continues, Pi Coin could retest lower support levels around $0.25, $0.1020, or even dip further. However, if bulls manage to reclaim control, the price might attempt to push towards its upper resistance target of $0.8510 — though this remains unlikely under current conditions.
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