Pi Network Faces Renewed Selling Pressure, Price Risks Drop Toward $0.20
Pi Network (PI) is showing technical weakness after failing a breakout and slipping below key resistance and the value area high on higher time frames. Price action formed a bearish engulfing pattern and trades below the 0.618 Fibonacci level, indicating sellers control the market. If PI cannot hold the daily point of control, analysts expect a move toward the value area low near $0.20, where liquidity accumulation could cause rapid wick-style declines. Ongoing regulatory progress — notably an application for MiCA compliance that may ease future European exchange listings — and ecosystem expansion (including deeper ties with CiDi Games for Web3 gaming) have not provided enough bullish momentum. A decisive break above resistance with high buying volume would be required to invalidate the bearish setup. Traders should watch daily closes around the point of control, volume spikes, and price reaction at $0.20 for short-term trade decisions.
Bearish
The article describes multiple technical signals pointing to further downside for PI: failure of a breakout, a bearish engulfing candle, trading below the 0.618 Fibonacci level, and loss of the value area high and point of control. These are classic bearish confirmations for traders, increasing the probability of a move toward the value area low (~$0.20). Positive fundamentals (MiCA filing, partnership with CiDi Games) are longer-term and not producing the immediate volume or price breakout required to reverse the technical trend. Historically, altcoins that lose key support and the point of control without strong on-chain or exchange demand tend to see accelerated declines or wick-prone drops as liquidity below support is swept. Short-term impact: increased selling, higher volatility, potential quick tests of $0.20 — favorable for short positions or cautious stop placement for longs. Long-term impact: fundamentals could reassert if regulatory approvals and real-world use cases materialize, but until demonstrable buying volume appears, the technical outlook remains bearish. Traders should monitor daily closes, volume spikes, orderbook liquidity near $0.20, and any regulatory/exchange listing news that could provide the necessary buying catalyst.