PI Network Price Retreats: From Breakout Hopes to All-Time Low Fears - What’s Next for the Crypto Underdog?

PI Network's rally hits a wall—just as believers were betting on that long-awaited breakout.

The Momentum Shift

PI's recent pullback dashes hopes of a sustained climb, leaving traders eyeing support levels that now look shaky. The token's failure to hold key resistance has market watchers questioning whether this is just a dip—or the start of something uglier.

Breaking Down the Slide

Volume's drying up faster than a puddle in the desert, and that's never a good sign for a token trying to prove its mettle. Without fresh capital flowing in, even the most ardent PI supporters are starting to sweat.

Market Realities Bite

Let's be real—the crypto space isn't exactly handing out participation trophies these days. PI's struggle mirrors the broader challenge for altcoins trying to stand out in a crowd that's increasingly focused on established players.

Where From Here?

PI Network now faces its ultimate test: prove the project's real utility or risk becoming just another footnote in crypto's graveyard of great ideas. Because in this market, potential doesn't pay the bills—actual adoption does. And as any seasoned trader will tell you, hope isn't an investment strategy—it's what you're left with when the numbers don't add up.

Sellers Regain Control After Failed Breakout

As earlier reported by BeInCrypto, Pi closed above the $0.3587 resistance on Friday, breaking out of the sideways trend that had kept its price muted since August 13. 

The token maintained its position above this breakout line on Saturday, but PI closed back below the resistance as selling pressure intensified on Sunday. 

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Daily chart readings now point to strengthening selloffs, worsening the likelihood of a resumption of the sideways trend, or a deeper decline. 

The token’s Elder-Ray Index, which measures the balance between bulls and bears, confirms the shift in control toward sellers. 

After three days of posting green histogram bars reflecting bullish strength, the indicator has returned a negative value. This reversal demonstrates a growing dominance of selling pressure over buying interest.

This shift implies that bulls are losing their grip on PI. Unless buying momentum re-emerges, the token could struggle to reclaim its breakout levels and may face further downward pressure.

Moreover, the token’s Balance of Power (BoP) indicator is also negative at press time, pointing to weakening buying pressure. It currently stands at -0.10.

The BoP measures the strength of buying versus selling pressure in the market, helping to identify whether bulls or bears are dominating price action. 

A negative reading, as seen now, indicates that sellers are exerting more influence than buyers, and buying pressure is weakening. 

This increases the likelihood of a continued sideways trend or even a further decline toward lower support levels for PI.

PI Risks Revisiting Record Low Unless Demand Returns

Continued selling pressure could keep PI trapped in a consolidation range between resistance at $0.3587 and support at $0.3391. If bearish sentiment grows, the altcoin may test a break below this support level, and a successful breach could see PI revisiting its all-time low of $0.3220.

However, if new demand enters the market, PI could climb back above $0.3587 and charge toward $0.3903.