Pi Token Faces Potential Breakdown

In the ruthless world of cryptos, some drops leave no room for ambiguity. The Pi Network crypto, which promised public access to mobile mining, is now wavering under the weight of a defiant market. While its PI token slides towards $0.60, technical indicators turn red and confidence erodes. Where supporters hoped for a recovery, there is a constant selling pressure establishing itself, signaling a potentially lasting shift in the project’s trajectory.

Pi Network on the Edge of the Critical Threshold

While Pi Network continues to fall following massive sell-offs, the crypto is currently testing a key support level, after several sessions marked by a slow but steady deterioration of its price. The PI token is trading around $0.63, but it is the $0.61 level that is attracting all the attention.

If the price falls below this support, it could drop to $0.57. The trend is all the more worrying as the Relative Strength Index (RSI) has remained firmly below the neutral zone since the end of May.

This positioning suggests a strengthening of bearish momentum, and above all a lack of significant buying pressure, which makes the scenario of a break even more plausible.

The technical indicators used in the analysis all reflect a fragile dynamic. The market struggles to react at current levels, leaving little hope for a spontaneous rebound. Here are the key technical points :

• The RSI below the neutral zone since late May indicates a lack of bullish momentum and a dominance of sellers ;
• The current price of $0.63, just above the support at $0.61, a level considered crucial ;
• An identified risk of a drop to $0.57 if the support is broken, according to projections from TradingView data ;
• The alternative scenario : a rebound could push the price to $0.71, but this assumes a sharp reversal of momentum, which has not yet been observed.

In this context, the market seems unable to mobilize sufficient buying power to restart the momentum. And if no external or fundamental factor fuels a rebound, breaking the support is no longer a distant hypothesis, but an immediate risk.

Investor Morale Hits a Low

Beyond just on-chain data, it is market psychology that heavily weighs on Pi Network’s trajectory. The sentiment around the token, as measured by the Santiment platform, shows a constant deterioration in investor confidence.

Confidence seems to erode, oscillating between temporary optimism and a quick return to caution. This lack of conviction could trigger stronger waves of selling in the coming days. Such emotional instability, combined with the absence of a fundamental catalyst, adds an additional threat to the maintenance of the technical support mentioned earlier.

The most concerning aspect lies in the volatility of collective mood. In this climate of uncertainty, even long-term token holders might be tempted to reduce their exposure, fearing a collapse of the PI price similar to those experienced by other altcoins during phases of lost confidence.

In the absence of major announcements, concrete developments on the mainnet, or noticeable economic progress, doubt becomes a driver of disengagement, intensifying the downward spiral.

If these behavioral dynamics persist, they could have lasting consequences for the project. A break below the $0.60 threshold would not just be a technical event but a strong psychological signal that could more durably damage the token’s credibility within its community.

In the medium term, Pi Network will need to regain market confidence through tangible actions if it wants to avoid being relegated to the list of unfulfilled promises, despite having sparked enthusiasm during the migration to its mainnet.