PI Price Forecast: Further Downside Risk for Pi Network as Broader Crypto Market Retreats

• Around $0.0740 marks this month’s low for Pi Network. The token is drifting back towards that level as it slips on Thursday.
• 43 is Thursday’s reading on the Fear and Greed Index. The decline points to a sustained weakening in investors’ appetite for risk.
• Mounting selling pressure leaves PI’s technical outlook pointing to further losses.

Pi Network (PI) is approaching near-term support around $0.0740. The token is trading lower on Thursday. With the Fear and Greed Index falling to 43 and liquidations exceeding $350 million over the past 24 hours, investors’ risk appetite appears to be weakening and sellers retain the advantage. Increasing selling pressure also leaves PI’s technical outlook bearish.

$355 Million in Liquidations as Crypto Market Comes Under Pressure

Selling intensified across the cryptocurrency market on Thursday after the US Federal Reserve (Fed) held interest rates at 3.75%-4.00% the day before. Over the past 24 hours, total liquidations reached $355 million, including $207 million in long positions, according to CoinGlass. The figures reinforce the market’s sell-side bias. Investor sentiment also continued to weaken: CoinMarketCap’s Fear and Greed Index fell from 48 last week to 43 on Thursday.

$0.0754: Pi Network Technical Outlook Remains Bearish as Selling Builds

At $0.0754 at press time on Thursday, Pi Network retains a bearish short-term bias. Upside remains constrained as the PI token trades beneath its 50-day Exponential Moving Average (EMA) at $0.0835 and its 200-day EMA at $0.1131.

Overhead resistance also comes from the descending trendline near $0.0799, drawn through the highs of 20 June and 22 August. The price remains below this line. For an upward trend to resume, PI needs to clear the resistance cluster formed by that trendline near $0.0799 and the 50-day EMA at $0.0835. Such a move could pave the way towards $0.1049, the 50% retracement of the decline from $0.1394 to $0.0704.

The momentum indicators remain weak. At around 34, the Relative Strength Index (RSI) signals persistent downside pressure, though not a decisive oversold capitulation. Meanwhile, the Moving Average Convergence Divergence (MACD) is levelling off near the zero line, suggesting bearish momentum is weak but still present.

Below current levels, the 22 October low of $0.0740 provides the next significant support, ahead of the Fibonacci anchor at $0.0704. A break beneath the latter could allow the prevailing downtrend to extend further.

(The technical analysis of this story was written with the help of an AI tool. Know more.)