Pi Network Drops 54%, More Losses Expected
The Most Important Points at a Glance
Pi Network (PI) has been in a downtrend following a strong price surge in mid-March. Since March 12, the token has lost 54% of its value. Technical indicators show persistent selling pressure. The market structure remains bearish, and analysts expect further price declines.
PI Network: Price Decline After Strong Surge
On March 12, PI Network recorded a price increase of 26.28% in a single day. However, a downtrend has dominated since then. Concerns about the network’s centralization and validator control have weakened investor confidence.
Technical Analysis: Support and Resistance
Technical analysis shows a clear downtrend structure. The price has fallen below key support zones. The moving averages (20SMA and 50SMA) on the 4-hour chart act as dynamic resistance levels. A retest of these levels could lead to further price declines.
Fibonacci Analysis: Possible Price Targets
Based on Fibonacci retracement analysis, the next possible price targets are $0.775 and $0.638. The recovery on March 21 was rejected at the 78.6% retracement level at $1.14. Since then, PI has lost another 28.38%.
Market Sentiment: Bearish Trend
The funding rate has been consistently negative over the past week. This indicates that short positions are dominating. Open interest data shows little new market activity, suggesting that many investors are waiting on the sidelines.
Our Assessment
The downtrend in PI Network remains intact. As long as no clear trend reversal is evident, the risk of further losses remains high. Investors should wait for stabilization or bullish signals before entering new positions.
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