Fast forward to today, and the story looks very different. The Pi Network price is now down 90% from that peak, reflecting a steep reversal in sentiment and demand.
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On the 4-hour chart, PI had been consolidating inside a symmetrical triangle from Aug. 30 until last week. However, the structure has now broken down into the triangle, confirming bearish momentum.
Following the breakdown, PI’s price printed two consecutive red candlesticks, reinforcing bearish momentum. At the same time, the Relative Strength Index (RSI) plunged to 10.54—an extremely oversold reading.
Such a low RSI signals intense selling pressure, but it can also hint that the token is nearing exhaustion on the downside.
In some cases, oversold conditions trigger a short-term relief bounce, though sustained recovery would still depend on stronger demand returning to the market.
PI Price Prediction: New Target Emerge
On the daily chart, however, the picture looks less optimistic for a quick recovery. One major reason is the Bull Bear Power (BBP).
At press time, the BBP has turned negative, signaling that selling pressure far outweighs buying strength. This suggests that even if oversold conditions spark a short-term bounce, PI’s broader trend may remain under bearish control until momentum shifts decisively.
Adding to the mix, the red line of the Supertrend indicator has flipped above the price, flashing another bearish signal.
This alignment suggests that downside risk remains elevated, and bulls may struggle to reverse the current trajectory without a significant change in market sentiment.
Should this remain the same, the Pi Network price risks declining to a new all-time low of $0.19. However, if buying pressure increases, things might change.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
