Pi Network Price Forecast: Pi Network Could Extend Decline But Bears Losing Steam

Pi Network (PI) struggled to sustain its momentum on Monday, reversing from the Pivot Point indicator at $0.28884. The rejection has reinforced a declining wedge pattern on the 4-hour chart, often seen as a bearish continuation setup. If sellers stay in control, PI could retest last Thursday’s swing low at $0.25790, with a deeper drop exposing the critical $0.2000 psychological support.

Despite this downside risk, the technical outlook is not entirely bearish. Indicators are beginning to reflect a slowdown in selling pressure. The Relative Strength Index (RSI) at 42 suggests PI has not yet reached oversold territory, leaving room for buyers to re-enter. At the same time, the Moving Average Convergence Divergence (MACD) continues to edge higher toward the zero line, with the signal line following suit—evidence that bearish momentum is gradually fading.

Looking ahead, bulls must reclaim the 50-period Exponential Moving Average (EMA) at $0.28372 to spark a recovery. A break above this level could open the door for a challenge of the $0.3000 round figure, which stands as a stronger upside barrier.

In short, while the short-term picture still favors bears, the weakening momentum indicators suggest that PI could be gearing up for a potential rebound if key support levels hold firm.

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