PI Network Token Faces Renewed Downside Risks Amid Weak Momentum

PI Network’s native token, PI, has been trading under pressure after plunging to an all-time low of $0.1842 on September 22. Since then, the cryptocurrency has moved sideways within a tight horizontal channel, holding support at $0.2565 while struggling to break resistance at $0.2917. With broader market sentiment remaining bearish, PI faces the risk of retesting its price low.

One of the clearest signals of weakening momentum is the Average True Range (ATR), which has consistently declined since September 23. At press time, ATR for PI/USD stood at 0.0234, underscoring narrowing price fluctuations and fading trader activity. A falling ATR typically points to reduced volatility and lack of participation, suggesting that capital inflows into PI remain limited. This raises the chances of a breakdown below the crucial $0.2565 support zone.

Adding to the bearish outlook, PI is currently trading well below its 20-day Exponential Moving Average (EMA). This indicator, sitting at $0.3185, is acting as dynamic resistance and highlights sellers’ control of the market. When an asset trades below its EMA, it usually indicates persistent downward momentum and limited buying interest.

If support fails, PI could revisit its all-time low, intensifying selling pressure. On the other hand, a bullish shift in sentiment might allow PI to retest resistance at $0.2919. A breakout above this level could pave the way for a short-term recovery and potentially drive the price back above its 20-day EMA.

For now, however, PI remains vulnerable, with weakening technical indicators and low market participation painting a cautious picture for traders and investors. Unless new buying momentum emerges, the token may continue its sideways consolidation or face further downside.