Pi Network (PI) Faces Persistent Bearish Pressure as Key Support Levels Tested

Pi Network continues to struggle against bearish momentum as its price trends downward, diverging from the broader cryptocurrency market's positive movement. The digital asset has seen limited buyer interest, with consecutive lower lows suggesting potential further downside. Market watchers are closely monitoring the $0.40 support level, which could prove pivotal for any potential recovery.

July has been particularly challenging for PI, with selling pressure dominating 10 out of 16 trading days. This sustained negative momentum has kept the downtrend firmly in place. The $0.52 resistance level now emerges as a critical barrier—only a strong breakout above this point might indicate a possible trend reversal.

Technical indicators reinforce the bearish outlook, with the daily Relative Strength Index (RSI) remaining below 50 for two straight months. Current RSI readings NEAR 30 highlight ongoing weakness. Traders are looking for a sustained RSI recovery above 50 as the first potential signal of changing momentum.