Headline: Pi Network (PI) Drops Below $0.13 as Sellers Dominate — Technicals Point to Deeper Pullback
Pi Network’s PI token slid into the red on Tuesday, breaking beneath the $0.1300 mark amid broad market weakness and renewed selling pressure. The move puts PI at risk of confirming a bearish reversal after it pierced a rising support trendline and fell below key short-term moving averages.
What’s happening
- Spot market flows show sellers in control. CryptoQuant’s taker Cumulative Volume Delta (CVD) has trended negative for the past 90 days, indicating persistent net selling and sustained distribution of PI.
- Market sentiment is risk-off. The CoinMarketCap Fear & Greed Index sits at 20 — “Extreme Fear” — an environment that typically punishes speculative, community-driven tokens like Pi Network.
Technical picture
- Price action: PI dropped under the 50-period EMA on the 4-hour chart at $0.1335 and breached the psychological $0.1300 level. It is now testing a breakdown of a rising support trendline near $0.1300; a confirmed close below that trendline would reinforce a bearish shift.
- Immediate downside targets: The first significant support is the 78.6% Fibonacci retracement (~$0.1251) calculated from the $0.1532 → $0.1184 move. Below that sits the swing low at $0.1184, with a further target at the 127.2% Fibonacci extension (~$0.1103) if selling persists.
- Momentum indicators: The 4-hour RSI has fallen to about 38, edging toward oversold territory, while the MACD has crossed below its signal line — both reinforcing bearish momentum despite the potential for short-lived technical rebounds.
- Resistance to clear for a recovery: Near-term resistance is clustered around the now-broken trendline and $0.1300, followed by the 50-period EMA ($0.1335) and the 50% Fibonacci retracement ($0.1346). Stronger hurdles would be the 200-period EMA (~$0.1390) and the 78.6% retracement at $0.1441 — levels PI would need to reclaim for any meaningful bullish recovery.
Outlook
The technicals and market flows favor sellers in the near term. Traders should watch for a confirmed close below the trendline and $0.1300 for validation of further downside, while a decisive reclaim of the key EMA and Fibonacci levels would be required to shift momentum back toward buyers.
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