Pi Network (pi number) Drops 9.98% After Worrying Technical Signals

CountdownToBroke · 2026-03-08T19:10:41+00:00

Pi Network has seen a nearly 10% drop in the last 24 hours, reaching $0.21, following analysts' warnings of a potentially bearish cup and handle pattern. While retail buying is increasing, institutional selling raises concerns over sustainability. Key price levels include primary support at $0.161 and critical support at $0.122.

CountdownToBroke

2026-03-08 19:10:41

Abstract generation in progress

Pi Network has experienced a nearly 10% decline in the past 24 hours, reaching a price of $0.21 according to data from March 8, 2026. This movement comes after NS3.AI analysts identified a potentially dangerous technical formation that could signal future bearish pressure on the pi token.

Technical Analysis: Inverted Cup and Handle Pattern

The detected chart setup exhibits characteristics of an inverted cup and handle pattern, a technical formation that traditionally indicates short-term weakness. This type of structure often precedes further downward movements when key support levels are broken. The significance of this pattern lies in challenging the bullish narrative some investors held about pi.

Contradictory Market Dynamics

Volume data reveal a significant gap between different participant segments. While small buyers have increased activity, reflected in positive volume and cash flow indicators, large institutional players appear to be distributing positions. This divergence between retail buying and institutional selling suggests a potential weakening of the previous rally’s sustainability.

Critical Price Levels to Watch

For traders tracking pi, the following technical levels are crucial:

Primary support: $0.161
Resistance zones: $0.193 and above
Additional critical support: $0.122 (potential target in case of a bearish breakdown)

If the price manages to stay above $0.161, stabilization is possible. However, if this level is broken, a decline toward new lows near $0.122 could occur.

Risk Outlook

With a trading volume of $10.41 million over 24 hours, pi continues to be closely monitored by technical analysts. The inverted pattern combined with institutional pressure suggests caution, although persistent retail activity provides some support. Investors should consider these factors before making decisions regarding their positions.

PI-0,78%

TOKEN2,95%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.