Pi Network Faces Critical Support Test as Price Nears All-Time Low

Pi Network's token price has dropped sharply to $0.42, approaching its historic low of $0.40. The project, initially celebrated as a decentralized solution for mass adoption, is now encountering growing skepticism as technical indicators turn bearish.

Both the MACD and Squeeze Momentum Indicator show increasing bearish momentum. With the crucial $0.440 support level broken, the likelihood of setting new record lows has significantly risen. Market analysts point to declining community engagement and mounting doubts about Pi Network's long-term sustainability.

This downturn highlights the difficulties speculative crypto projects face when initial hype meets market pressures. The breakdown of support levels, coupled with deteriorating technical fundamentals, indicates that downward momentum could continue in the short term.