PI Network ($PI) Drops 7.3% to $0.626, Near $0.6083 Support As Traders Await Breakout Signals

PI fell 7.3%, hovering above a key $0.6083 support level, signaling vulnerability to further downside.

RSI at 38.84 and flat MACD indicate sideways movement with no strong momentum.

Sentiment is mixed; traders await breakout signals before committing to directional positions.

The Pi Network’s native token, PI, is currently undergoing downward pressure, falling 7.3% over the last 24 hours to trade at approximately $0.626. The dip places it just above a critical support level at $0.6083, raising short-term concerns for bullish traders as broader market volatility continues to influence price movement.

Indicators Point Toward Consolidation Phase

Technical indicators are suggesting a consolidation phase rather than a strong directional trend. The Relative Strength Index (RSI), currently reading 38.84, remains below the neutral 50 level but far from oversold territory (30). This implies that while sellers have gained some control, momentum is not sharply negative.

Source: TradingView

Also, the MACD shows little difference between the MACD line and the signal line, suggesting that there isn’t much momentum present in either direction. The histogram hovers near zero, reflecting sideways movement in price over recent sessions.

Support and Resistance Levels Define Price Action

The chart shows a tight 24-hour range of $0.6083 to $0.6859. The downside edge remains important; a breakdown below it would cause further declines, while a break above resistance could be an early sign of a reversal. That there is no breakout of this range keeps market participants on the sidelines in wait for a clearer signal.

Despite community speculation about the token’s long-term valuation—specifically the possibility of PI reaching $5 by 2025—current data does not support aggressive price targets in the near term. The token remains within a broad consolidation pattern, with no evidence of a strong trend emerging just yet.

Market Sentiment Remains Divided

Sentiment around PI remains divided. On one hand, social media engagement suggests optimism among some holders. On the other, price action continues to reflect uncertainty. The divergence between expectations and technical performance highlights the need for cautious positioning.

As it stands, PI’s immediate outlook depends on whether it can hold above the current support or gather momentum to retest the $0.6859 resistance. Traders may look for confirmation through volume increases or a significant MACD crossover before making directional bets.