PI Network Price Forecast: The Downtrend Still Prevails, Can the Bulls Turn the Situation Around?

After more than 4 to 5 years of waiting, Pi Network has finally officially launched its open mainnet more than 3 months ago. This event marked a major turning point, bringing this once highly anticipated project back into the spotlight of the cryptocurrency market. Pi Network quickly made it to the top 20 cryptocurrency projects after launching the mainnet, drawing strong attention on social media platforms and boasting over 60 million users worldwide. Current Situation: PI Price Fluctuates Strongly and Bearish Signals Dominate Although the Pi network has made some significant progress, the PI token price is still showing extreme volatility, especially after major token unlocks, which has made many investors cautious. After bouncing off the support zone below $0.7, the PI price has shown signs of a slight recovery, but the long-term trend is still not really positive. Upon closer observation, the price of PI has undergone two strong rallies, but then quickly faced sell-offs, leading to a clear bearish pattern. From the most recent peak, the price has decreased by more than 52%, and according to technical analysis, the long-term trend remains negative with a target drop deep into the 0.3 USD range, corresponding to a decline of up to 80% from the peak.

Technical Indicators Indicate Continued Dominance of Negative Trends On the broader timeframe, the PI price is trading below the Gaussian channel – a typical signal of a downtrend. In addition, the CMF (Chaikin Money Flow) indicator is also showing a bearish divergence, although it is trying to create a recovery signal. The significant decline in trading volume further reinforces the thesis that speculation and trading are cooling, causing risks to continue to rise. Given the current technical signals, the PI price may be preparing for another decline of 10% to 15% in the short term if it fails to hold the current support. Short and Long Term Outlook: Is There Hope for the Bulls? In the short term, the price of PI may continue to trade within the accumulation zone with slight fluctuations around the support area. However, the next token unlocks are expected to increase market volatility, which could create short-term rallies if the demand is strong enough. The prerequisite for improving market sentiment is for the price of PI to break through the important resistance level at 1 USD and maintain above this level for a long time without strong adjustments. Conclusion Although Pi Network is making significant progress in developing its ecosystem and brand recognition, the price of PI is still under heavy pressure from technical factors and market sentiment. If it cannot maintain above 1 USD and overcome the impact of token unlocks, the downtrend may continue to dominate in the near future. However, if the project continues to draw attention from users, promotes practical applications, and gets listed on more major exchanges, a strong recovery may still occur in the future.