Pi Network’s native token, PI, has dipped more than 10% over the past 24 hours, retreating below the $0.09 mark to trade near $0.082. This pullback wiped out most of the recent 20% rebound that lifted the token off its all-time low of about $0.07.
Earlier this month, PI saw a brief surge that brought it close to the $0.10 resistance level. However, the rally stalled as buying interest faded, leaving the token unable to break through this critical barrier. Since then, selling pressure has returned, pushing the price lower and reviving concerns about PI’s ability to sustain a recovery.
Resistance Holds Firm as Support is Tested
The $0.10 resistance remains a significant hurdle. Traders had hoped that surpassing this price would signal a broader upward move, but the token failed to maintain momentum after its attempt. In contrast, the $0.07 level continues to act as the main support. If this support gives way, PI could enter uncharted territory, facing a risk of plunging to new lows without historical cushion.
Price action over the past year shows a recurring pattern where PI alternates between sideways trading ranges and steep declines to new record lows. Each rebound has been short-lived, ending with a faltering near resistance before another drop ensues. This cyclical behavior appears to be repeating itself now.
The project behind Pi Network has not paused product updates and protocol enhancements. Still, these developments have not translated into sustained price gains. Meanwhile, daily token unlocks continue to flood the market, adding downward pressure on PI’s price.
Looking Ahead
Technical watchers focus on the two critical levels: $0.10 on the upside and $0.07 below. A breach above $0.10 could improve sentiment and encourage more buying, but failure to hold $0.07 might see PI entering a phase of price discovery with increased volatility.
