PI Token Tests Critical Support Amid Bearish Market Pressure

PI Network's native token continues to face significant downward pressure as it trades near its all-time low of $0.1842, established on September 22. The cryptocurrency remains confined within a narrow horizontal channel, with support holding at $0.2565 and resistance capping gains at $0.2917. Persistent bearish sentiment across digital asset markets increases the likelihood of PI retesting its historic low levels.

Diminishing volatility, indicated by the declining Average True Range (ATR) metric, reflects reduced trader engagement. The ATR has consistently decreased since September 23, currently sitting at 0.0234. Such volatility compression often signals impending breakdowns, raising concerns about PI's ability to maintain its current support zone.

The token's position below its 20-day Exponential Moving Average ($0.3185) reinforces the negative technical outlook. This dynamic resistance level highlights ongoing selling pressure and absence of bullish momentum. A breach below $0.2565 could trigger accelerated selling, while a decisive breakout above $0.2919 might provide temporary relief for holders.