Pi Network (PI) Drops 12% Weekly as RSI Nears Oversold—What to Watch
Pi Network (PI) is falling again, down about 12% over the week after briefly breaking below $0.12 (its lowest level since trading began). The token later recovered slightly and is trading just under $0.13, still reflecting a ~96% drop from its February 2025 all-time high.
A trader on X (Erick Crypto ₿) said Pi Network (PI) looks like it may be stabilizing, but volume remains low, so “confirmation is still needed.” Technically, Pi Network (PI) is nearing oversold territory on the Relative Strength Index (RSI), which can set up a bounce—provided buyers step in. However, the same commentary stressed risk management until a clear trend reversal appears.
Fundamentally, the Pi team has continued shipping ecosystem progress, including a transition to protocol v24 to strengthen infrastructure for node operations and mainnet activity. The next migration to v25 is scheduled to end on June 18.
Despite these updates, the article notes no immediate price rebound. Attention is now turning to two community-driven dates: June 18 (v25 milestone deadline) and June 28 (Pi2Day), where some X users speculate about additional announcements or features. Nothing is confirmed, so traders may treat it as a catalyst watchlist rather than a guaranteed trigger.
Net takeaway for Pi Network (PI) traders: current downside momentum dominates, but oversold RSI and upcoming milestones could support short-term mean-reversion if buy-side demand shows up.
Neutral
The news is dominated by price weakness—Pi Network (PI) is down ~12% weekly and remains far below its February 2025 peak (~-96%). That keeps near-term sentiment cautious (bearish pressure). However, the article also highlights a potential technical setup: Pi Network (PI) RSI is nearing oversold and volume is low but stabilizing, which often precedes short-term mean-reversion bounces in similar prior oversold episodes. On top of that, ongoing protocol upgrades (v24 now, v25 due June 18) and game/ecosystem additions provide longer-term narrative support, but they have not yet translated into immediate buying.
Because the recovery thesis depends on “confirmation” (buyers stepping in) and the biggest upcoming community catalyst (Pi2Day, June 28) is speculative rather than confirmed, the likely trading impact is mixed: short-term traders may see bounce opportunities on oversold conditions, while risk-conscious traders may still fade rallies until a clearer trend reversal forms.