Pi Network Faces Heavy Losses, Price Risks Falling Below $0.50

At the moment, Pi Network is trading at $0.613, staying under the $0.617 resistance level. The constant pressure is making it difficult for the altcoin to regain strength. Market watchers warn that if this trend continues, the price might fall to its next support at $0.519. A break below this point could trigger a drop toward $0.500.

The Relative Strength Index (RSI) is also hinting at more trouble. Stuck below the neutral 50.0 mark, the RSI shows a lack of buying interest. This keeps the bearish sentiment strong and the chances of a price bounce weak.

Adding to the tension, the Bollinger Bands have started tightening. This typically signals an upcoming price move, either up or down. With the current market conditions leaning negative, Pi Network might see further losses if selling pressure rises.

However, there’s still a slim chance for recovery. If Pi Network can push past the $0.617 mark, it might climb toward $0.710. Such a move would break the current downtrend and possibly restore investor confidence.

For now, the market remains cautious as Pi Network struggles to find stable ground.