Pi Network under pressure: technical indicators signal structural weakness

The Pi Network token is in a critical situation, with the price holding at $0.19 and a loss of -1.25% in the last 24 hours. Unlike a panic liquidation, what we observe is an orderly, almost methodical decline, where downward pressure is exerted in a controlled manner through the accumulation of gradual sell-offs.

When indicators reveal stagnation: the role of the MACD indicator

The MACD indicator represents one of the most eloquent signals of the current market state. The histogram remains slightly negative, while the signal lines stay compressed below zero, a configuration that indicates insufficient momentum rather than explosive downward pressure. Previous attempts by the indicator to turn positive during local recoveries have been fleeting and lacked real conviction—evidence that rallies are driven by tactical profit-taking, not by new structural demand.

What makes this situation particular is that the MACD indicator does not show the typical bullish divergence that signals significant rebounds. Sellers have taken control, but they are not exercising it aggressively; buyers remain waiting for more convincing signals.

The bearish structure: declining highs and resistance levels turned into burdens

Since the peak of $0.28 recorded towards the end of November, the price has traced an almost uninterrupted downward trajectory. What characterizes this movement is not a vertical crash, but a succession of increasingly weaker liquidation waves.

Each rebound attempt proves weaker than the previous one, a phenomenon that in crypto markets usually signals a shifting of demand toward lower levels. Candles remain tight and compressed, indicating a stalemate between sellers who are not fully convinced and buyers who are drawing their lower psychological support lines.

Historical support areas are not decisively recovered; instead, they become upper resistance levels, a reversal that amplifies the structural weakness of Pi Network’s current position.

RSI: near oversold, but no signs of imminent rebound

The Relative Strength Index has reached levels around 30 on the 4-hour timeframe, a position traditionally associated with oversold conditions. However, proximity to 30 alone does not guarantee a rebound—it depends on the context.

In this case, the RSI remains pressed downward without showing bullish divergences, a signal that tells us: this is not yet the point of capitulation. The classic bullish divergence—when the price falls but the RSI forms a higher bottom—is absent. This suggests that the market is in a phase of structural weakness, where sellers maintain control without desperation, and buyers have not yet shown enough aggressiveness to reverse the trend.

What would be needed to change the balance

For Pi Network to stabilize and reverse the downtrend, very specific conditions would be necessary: a decisive and sustained increase in volume, a convincing breakout of local resistances, or a market event that re-engages buyers with renewed confidence.

Until the RSI remains under pressure and the MACD indicator continues oscillating in negative territory, the outlook remains one of consolidation at low levels or further declines. If rebounds continue to manifest, they are highly likely to be simple tactical corrections within a broader bearish trend, not structural reversals.

A return to equilibrium would require reclaiming and maintaining previously broken zones—an scenario that the current chart does not yet show signs of achieving.