Pi Network Extends Decline as Futures Open Interest Falls

| coinjournal.net
Pi Network has weakened further since trading near $0.0865 on Monday: by Thursday, PI was around $0.0823, down about 1% on the day after seven consecutive daily declines and a 7% drop the previous day. The latest update shows futures open interest down about 14% to $8.94 million, reversing an earlier increase to $10.15 million. Falling open interest may reflect lower prices, closed positions or liquidations, but does not reveal traders’ directional positions. Social dominance also edged down to 0.13%, offering little evidence that attention is bringing in buyers. Technical signals remain bearish. PI trades below its key moving averages, with the 50-day EMA near $0.0902; RSI has weakened from about 43 to 38, and MACD remains negative. Initial resistance is at $0.0827. A sustained recovery above it could bring the 50-day EMA into focus. Support is near $0.0801, with a break potentially exposing $0.0704. The latest decline in open interest may reduce leveraged exposure, but PI’s rebound remains tentative unless it holds support and reclaims resistance.
Bearish
The combined signals point to continued downside risk for PI. Its price fell from about $0.0865 to $0.0823, while the daily losing streak lengthened and momentum weakened: RSI dropped to around 38, MACD stayed negative, and PI remained below key moving averages. The latest fall in futures open interest contrasts with the earlier increase. It may indicate reduced positioning or liquidations, but it does not establish whether traders were predominantly bullish or bearish. In the short term, a break below $0.0801 could expose $0.0704, while resistance at $0.0827 and then the 50-day EMA near $0.0902 may limit recovery attempts. Lower open interest could temper liquidation-driven volatility, but it does not by itself reverse the price trend. Over the longer term, holding support and reclaiming the moving averages would improve the outlook; until then, weak momentum and the lack of clear buying demand favor a bearish assessment.