PI, the native cryptocurrency of the Pi Network, has faced relentless selling pressure, plunging 25% in the past week to its lowest level since Feb. 22.
This sharp decline was not solely driven by sell-offs but also by waning demand for the token. As a result, PI now sits just 14% away from retesting its all-time low.
What’s next for PI as the second quarter of 2025 approaches? This analysis examines potential price movement and key levels to watch.
PI’s price reached its all-time high of $2.98 six days after it became tradable. Since then, it has been challenging to break replicates of such performances with previous attempts ending in rejection.
Due to this, the PI/USD 4-hour chart shows that the altcoin has been trading within a descending triangle. By trading within this pattern, PI might find it challenging to experience a price increase if it fails to break the upper descending channel.
Amid this decline, the Relative Strength Index (RSI) reading has dropped to 26.18. While the RSI measures momentum, it also shows when an asset is overbought or oversold.
Readings above 70 suggest overbought conditions, while those below 30 indicate an asset is oversold. Currently, PI’s RSI signals that the cryptocurrency is in oversold territory.
However, despite this classification, there are no clear signs of an imminent trend reversal, suggesting that the bearish momentum could persist.
However, despite this classification, there are no clear signs of an imminent trend reversal.
PI Coin Price Breaks Key Support
Another indicator suggesting that PI’s price might keep trading lower is the Exponential Moving Average (EMA), a technical oscillator that measures trend direction.
The trend is bullish when the EMA is below a cryptocurrency’s price. However, if the price is below the EMA, it indicates a bearish trend.
On the PI/USD daily chart, PI’s price has slid under the 20 EMA (blue), indicating that it has lost hold of key support. Due to this technical setup, PI’s price might not recover in the $1 direction.
Instead, the cryptocurrency’s value will likely fall to $0.62 — its all-time low. If selling pressure increases, the value might sink below $0.50, making it challenging for PI to rebound.
On the other hand, PI might avoid further decline if buying pressure picks up. A surge in demand might push the market value above the upper trendline of the descending triangle.
If confirmed, the PI could climb to $1.53, aligning with the 0.382 Fibonacci level. Further demand at this stage might propel the price toward $2, near the 0.618 Fibonacci ratio.
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.
