PI Token at Critical Juncture: Analyzing Bullish and Bearish Scenarios Amid Market Volatility

Pi Network's native token, PI, is at a pivotal point as its price lingers around $0.54, reflecting a 14% weekly drop. The asset recently fell below $0.40—its lowest since early April—due to broader crypto market pressures stemming from geopolitical tensions between Israel and Iran.

Technical indicators hint at possible upside. PI's Relative Strength Index (RSI) is at 32, approaching oversold levels that have historically signaled rallies. However, a rise in exchange-held tokens over the past month could fuel sell pressure, potentially limiting gains.

Market sentiment remains split. While some analysts foresee a short-term rebound, PI's sensitivity to macroeconomic risks and liquidity fluctuations keeps traders wary. Despite a partial recovery, Pi continues to underperform compared to major altcoins.