Pi Network Price Drops 5.5% in 24 Hours, Bearish Trend Persists

Pi Network's price has experienced a significant decline, dropping by 5.5% in the past 24 hours to $0.58, which has raised concerns among investors. This downward trend has occurred despite some altcoins rallying, and it has led to further worries about the network's price action. The price trends indicate that Pi is moving independently from Bitcoin’s rise, even as Bitcoin approaches $100,000. This suggests that Pi has limited potential for a rally. Investors are waiting for a clear reversal signal before reentering the market, closely monitoring volume and momentum indicators for signs of stabilization. The current bearish trend dominates the market, and clearer technical indicators are needed before bullish sentiment can revive.

The Pi market data, as indicated by the Pi CMF (Chaikin Money Flow) indicator, shows limited inflows, with the indicator staying below zero. This persistent negative reading reveals that outflows still dominate the asset’s trend. Occasional buying is consistently offset by selling pressure, blocking any significant recovery attempts. The lack of robust investor support further underlines the bearish sentiment. With the Pi CMF remaining below the crucial threshold, hopes for a meaningful rebound fade. Traders may remain cautious in May until sustained inflows push the indicator above zero.

Examining the Pi Bitcoin correlation complicates the asset’s forecast. The -0.11 inverse relationship suggests that Bitcoin rallies might undermine Pi's price. If Bitcoin continues to chase fresh highs, Pi could suffer further pullbacks rather than prosper. This divergence dampens Pi’s expansion in environments favoring established digital coins. Recognizing how Pi diverges during pivotal market phases sharpens risk assessments for this emerging cryptocurrency. This pattern underscores the importance of analyzing Bitcoin correlation metrics alongside market sentiment, as divergence from general trends provides crucial insights.

In the last thirty days, Pi Network’s market value has fallen almost 25%, fueling bearish sentiment around the token. The Pi price now stands near $0.5775, raising fears of a breach below crucial support. If negative Pi token price action continues, the price could drop toward $0.5192 or revisit lows near $0.4000. Its detachment from Bitcoin suggests that broader market rallies may worsen Pi’s slide. With both sentiment and technical indicators deteriorating, Pi’s future depends on fresh buying interest to stop the drop. Failure to find support could trigger further declines.

Pi Network’s innovative mobile mining model and community growth initially drove widespread enthusiasm and swift uptake. Maintaining that momentum proved challenging as investors prioritize projects with clear practical applications. The weakening Pi coin price action demonstrates this shift as doubts about the project’s utility and transparency undermine confidence. Without establishing useful real-world functions and expanding its user base, Pi’s recovery seems remote. Moreover, capital flow indicators indicate that significant investor engagement has yet to reemerge, further complicating efforts to restore trust.

Pi Network price plunged decisively below its $0.65–$0.68 consolidation zone, slipping under $0.60. This fall transformed the $0.60 level from support into immediate resistance, while $0.50 emerged as a buying zone. Any upward move past $0.60, together with the RSI rising above 35, could trigger a modest relief rally. Market participants should closely watch these levels for signs of renewed buying interest and potential stabilization.

On the PI/USD daily chart, the 14-period RSI remains deeply oversold at about 25. This level signals selling exhaustion, though oversold trends can persist in strong moves. At the same time, the ADX has risen close to 47, confirming a powerful downtrend bias. These indicators imply that the current decline likely has more room to run, while the negative momentum has likely slowed significantly. Unless Pi reclaims $0.60 and the RSI recovers above 30, further drops toward $0.55 and possibly $0.50 are probable.

Volatile Pi network price action underscores a critical turning point for this altcoin, straining investor faith and confidence. Early excitement now faces skepticism as Pi struggles to convert hype into sustainable, long-term value. Concurrently, a negative Pi Bitcoin correlation diminishes Pi’s role in broader rally momentum. Pi may endure further setbacks if significant utility improvements and renewed positive sentiment are absent. Analysts urge investors to exercise caution and closely watch market indicators before supporting any rebound. With heightened volatility and uncertain fundamentals, vigilant monitoring remains crucial for potential recovery plans.