Bad Signals Surrounding Pi Network – Resurrection or Continued Decline?

The price of Pi Network (PI) has fallen by more than 14% in the past 30 days, bringing the token price below $1 since May 14 and the market cap dropping below $5 billion. Currently, the technical indicators still show a negative trend, especially the EMA, Ichimoku Cloud, and BBTrend all signal weak buying power and no clear signs of reversal. If there is no early breakthrough, PI risks continuing to fall deeper before it can recover. Weak technical signals, PI has not been able to break resistance. Analysis from the Ichimoku Cloud model shows that PI is currently below the red cloud, indicating that the market is still under the influence of selling pressure. The Tenkan-sen and Kijun-sen lines are close to each other and moving sideways, reflecting the indecision of investors. At the same time, the price candles are being compressed within a narrow range, indicating a prolonged accumulation phase but with an unclear trend. Only when the price rises clearly above the Ichimoku cloud can the trend shift to positive.

The recovery potential is still faint, and the risk of fall remains high. The BBTrend indicator is currently at -2.21, indicating that PI is in a slight bearish zone but there is no clear reversal signal yet. Last week, BBTrend dropped to -18.7, reflecting a strong sell-off. Currently, the decline has stalled, but the market still lacks upward momentum. If the price cannot hold the main support levels, PI may break the historical threshold for the first time, increasing the risk.

However, in a positive scenario, if PI breaks through the EMA resistance zone with strong buying power, the price could surge over 35% in the short term.