Traders Step Back As Pi Network Fails To Recover

As euphoria fades more and more in the crypto market, Pi Network, already controversial, has just brushed a new historic low. Officially, the global context is to blame. However, technical signals paint an even darker picture: absence of rebound, low volume, indicators in the red. Doubt is setting in. Is Pi Network losing control of its trajectory?

A bearish dynamic confirmed by indicators

Since September 22, the PI token has stagnated after reaching a historic low at $0.1842, despite the launch of the V23 update. It now oscillates between support at $0.2565 and resistance at $0.2917, without managing to start any significant rebound.

This situation illustrates the market’s inability to generate rebound momentum, despite a historically low level.

Several technical indicators reinforce this bearish scenario :

• The Average True Range (ATR) is falling : since September 23, this key volatility indicator has been continuously dropping, reaching 0.0234. This trend reflects a gradual weakening of momentum.

• The PI crypto remains below its 20-day exponential moving average (EMA 20) : situated at $0.3185, this moving average acts as a technical resistance. This configuration confirms this bearish outlook.

• No bullish recovery detected : the price’s inability to break through resistance suggests a takeover by sellers and raises fears of an imminent break of support at $0.2565.

These signals converge towards a scenario where the crypto price could break its current support and head again towards its historic floor. The market shows few positive signs, and technical analysis currently shows no clear bullish build-up.

A free-fall participation and absence of catalyst

Beyond the on-chain data related to the price, it is the behavioral indicators of market participants that add to the concern. Indeed, there is a notable decrease in trader participation on the spot market, reflecting growing disinterest.

This decline reveals the gradual disengagement of traders on the spot market and the absence of inflow of new capital into the token. It is therefore not only a temporary technical weakness but a clear withdrawal of liquidity and confidence in the asset.

This withdrawal is also expressed by the absence of a visible catalyst likely to reverse the trend. As long as Pi Network does not break the $0.2919 threshold, the probability of a reversal remains low.

A breakthrough of this level could mark the beginning of a recovery attempt, pushing the PI price above its 20-day moving average. However, in the absence of a resurgence of bullish sentiment, the most likely scenario remains a return of the price to the historic low, or even an extension of the decline if the current support gives way.