Pi Network Faces Volatility as Technical Indicators Show Divergence Following Failed Rally

Pi Network’s token experiences renewed downward pressure after an unsuccessful breakout attempt, with its Relative Strength Index (RSI) pulling back to 45 after briefly surpassing the neutral 50 level. The altcoin now hovers above crucial support levels as traders assess potential scenarios ranging from a deeper correction to a short-term relief rally.

Technical analysis presents conflicting signals: while the Tenkan-sen/Kijun-sen crossover indicates emerging bullish momentum, the persistent bearish cloud formation and declining Exponential Moving Averages (EMAs) highlight continued weakness. The market structure remains bearish with PI trading below the Ichimoku cloud, though the conversion line’s recent rise above the base line suggests a possible trend reversal if accompanied by sufficient trading volume.