Pi Network drops below $0.1300 as sellers take control
Pi Network (PI) fell below the $0.1300 level on Tuesday, extending losses as broader crypto sentiment weakens. The move signals a potential breakdown of a rising support trendline near $0.1300.
CryptoQuant’s taker Cumulative Volume Delta (CVD) stayed persistently negative over the past 90 days, implying sell orders have consistently outweighed buys and demand is weakening. At the same time, the CoinMarketCap Fear and Greed Index is at 20 (“Extreme Fear”), a risk-off backdrop that typically hits speculative, community-driven coins like Pi Network.
On the technical side, PI extended its bearish structure after dropping below the 50-period EMA around $0.1335 (4-hour chart). If PI holds a confirmed close below $0.1300, downside targets shift lower toward key Fibonacci levels: 78.6% retracement near $0.1251, then the $0.1184 swing low, and a deeper extension around $0.1103.
Momentum indicators remain seller-favored. The 4-hour RSI is around 38 (near oversold), while MACD has crossed below its signal line. Immediate resistance sits around $0.1300, followed by the 50-period EMA ($0.1335) and higher resistance near $0.1390 (200-period EMA) and $0.1441.
For traders, the focus is whether PI can reclaim $0.1300 or whether the breakdown accelerates toward $0.1251 and beyond.
Bearish
The article’s core signal is that Pi Network (PI) has broken below a key psychological level ($0.1300) and is doing so alongside confirmed bearish market microstructure and technical momentum.
1) Order-flow confirmation: CryptoQuant’s negative taker CVD over 90 days suggests persistent distribution (sellers consistently winning) rather than a one-day dip. This is similar to past “break + negative flow” setups where rebounds often fail until flow turns.
2) Technical breakdown: PI dropping below the 50-period EMA near $0.1335 and testing a breakdown of a rising support trendline around $0.1300 increases the probability of a bearish continuation. The defined Fibonacci downside map ($0.1251 → $0.1184 → $0.1103) gives traders clear levels to watch for liquidation-driven moves.
3) Risk-off macro sentiment: Fear & Greed at 20 (“Extreme Fear”) typically reduces speculative bid. In prior extreme-fear phases, community-driven or lower-liquidity assets often underperform and recover slower.
Short-term: Expect volatility and potential follow-through lower if PI cannot reclaim $0.1300 quickly. Traders may look for failed rallies into resistance ($0.1300–$0.1335) or oversold bounce attempts, but only if CVD/RSI improve.
Long-term: If negative CVD persists, each technical bounce can become a sell-the-rip opportunity, delaying bullish structure repair. A more durable bullish shift would require reclaiming $0.1335 and then holding above the next resistance zones ($0.1390+), alongside improving order-flow.