Pi Network Token Faces Bearish Pressure as Market Momentum Wanes

Pi Network's native token, PI, continues to struggle as technical indicators signal weakening momentum. The token's Average True Range (ATR) has declined to 0.0234, reflecting diminished price volatility and trader participation. Pi remains trapped below the 20-day EMA, reinforcing bearish sentiment.

Critical support at $0.2565 shows signs of strain, with the risk of a retest of September's all-time low at $0.1842. Resistance at $0.2917 has proven formidable, creating a tightening trading range that typically precedes directional movement. Market participants appear hesitant to commit capital at current levels.

The sideways consolidation pattern since late September suggests accumulation may be occurring, though the prevailing technical picture favors downside potential. Without significant buying pressure, PI risks breaking its narrow trading channel and establishing new lower support levels.