Pi Network’s token gave a small spark this week, rallying 7.1% over three days from July 28 to 30. The price climbed from a low of $0.073 to just above $0.10, briefly challenging the psychological resistance around that level. Yet, this recent bounce looks more like a shakeout than a real turnaround.

Since April 2025, Pi has been caught in a steady downhill trajectory, marking lower peaks and troughs that underline persistent bearish pressure. Even the bounce in March 2026, which nearly touched $0.30, failed to build lasting bullish momentum. More recently, on July 19, the token hit $0.104, clearing out liquidity near the $0.10 mark but quickly fell back, losing nearly 21% over the following two weeks.

Technical Signals Point to Sellers’ Advantage

The technical landscape remains grim for bulls. The low from February at $0.13 was broken, and the token set a new swing low at $0.07. Key indicators on the daily chart signal strong selling activity: the On-Balance Volume (OBV) has trended downward all year, while the Chaikin Money Flow (CMF) dipped below -0.05 in July, indicating heavy selling pressure before barely recovering to neutral. The Relative Strength Index (RSI) sits at 37, well below the neutral 50, reflecting bearish momentum since May.

Short-term price action also suggests trouble ahead. The golden pocket between $0.113 and $0.124, based on Fibonacci retracement, appears out of reach. Attempts to hold above $0.10 have been rejected, and the $0.083 to $0.085 zone needs to act as support to offer any hope for a rally. Otherwise, a retest of lower levels looks inevitable, with any bounce toward $0.10-$0.125 likely to serve as a selling opportunity for traders.

The network’s recent protocol upgrade, introducing BN254 cryptography and Poseidon hashing, aims to enhance stability. Plus, the launch of a liquidity pool combining SLICE and Test-Pi with an automated market maker and DEX order book shows ongoing development efforts. Yet, these technical and ecosystem improvements have yet to spark sustained buying interest.

This content is for informational purposes and does not constitute financial advice.