#PI According to Coin Journal

The PI coin has fallen to $0.803 despite the launch of the $100 million Pi Network Ventures fund.
The Pi Network Ventures fund targets startups to enhance the real utility of PI.
Bearish technical data suggests that PI could fall to $0.75 or lower.
The Pi Coin from Pi Network has experienced a drastic 10% drop in its price over the last 24 hours, although Pi Network announced a $100 million investment in startups during the launch of Pi Network Ventures.

Initially, the announcement sparked optimism among investors, but the market quickly turned bearish.

As a result, PI is now trading at $0.803, down from a recent high of $1.65.

This sharp decline suggests a classic "sell the news" reaction, with technical indicators pointing to new downside risks.

Launch of Pi Network Ventures
On May 14, Pi Network unveiled Pi Network Ventures, committing to invest 100 million dollars to promote innovation in startups.

More specifically, the fund, held in Pi and USD, targets companies that enhance the real utility of PI.

For example, it supports startups in the fields of AI, FinTech, and e-commerce by integrating Pi into their operations.

Furthermore, the initiative draws from the token reserves of 10% of the Pi Foundation.

As a result, it aims to transform Pi into a widely used cryptocurrency.

However, the lack of details regarding project selection has frustrated investors. Consequently, market sentiment has deteriorated following the announcement.

Furthermore, the fund's objective extends beyond blockchain to general technology sectors.

As a result, it reflects the venture capital strategies of Silicon Valley.

Ultimately, this broad approach aims to strengthen the Pi ecosystem for its 19 million verified KYC users.

But despite these ambitions, the announcement failed to maintain an upward momentum.

Instead, the price of PI dropped by 26.2% in the 24 hours following the news.

Moreover, community complaints regarding the slow migration processes after the launch of the Pi Network mainnet have amplified selling pressure.

Nevertheless, the initiative provides startups with access to Pi's global user base in 200+ countries, and it could lead to long-term adoption, although the immediate market reaction remains extremely bearish.

Price prediction of the PI coin
At the time of going to press, PI was trading at $0.803, down 10.6% over the last 24 hours according to data from Coingecko.

Significantly, the price has breached the critical psychological support level of $1.

Moreover, the technical analysis reveals a bearish flag pattern on the 2-hour chart.

Therefore, this model signals potential further declines to $0.75, or even $0.57.

Moreover, the 21-period EMA has fallen below the 50-day and 200-period EMAs, reinforcing the bearish signals.

However, the relative strength index (RSI) indicates oversold conditions, suggesting intense selling pressure.

However, a bullish market reversal could push PI towards $1.25, aligning with the Fibonacci level of 0.618.

Despite recent losses, PI remains 11.8% above its level from seven days ago, although it is 73.1% below its all-time high of $2.99 from February 2025.

Moreover, the transaction volume surged by 11%, which accounts for 14% of the market capitalization of $5.75 billion.

This increased activity highlights the market's reaction to Ventures' announcement, and in the future, Pi coin's inability to recover to $1 could intensify the bearish momentum.

Conversely, a broader rally in the cryptocurrency market could bolster PI's recovery, and traders should monitor the 50 and 200-day EMAs as key resistance levels.

Ultimately, the short-term prospects of PI depend on market sentiment and the evolution of the ecosystem.