TLDR
- Pi Network price dropped more than 10% and fell below $0.09.
- PI trades near $0.082 after its recent recovery lost momentum.
- The token failed to break the key $0.10 resistance level.
- PI previously rebounded about 20% from its all-time low near $0.07.
- The $0.07 level remains the main support against another record low.
Pi Network’s native token, PI coin, has dropped below the $0.09 mark again after losing more than 10% over the past 24 hours. The decline erased most of the gains from its recent rebound and renewed concerns about the token’s ability to hold above its recent lows.
Source: CoinGecko
The latest move comes after Pi Network price briefly recovered from its all-time low near $0.07 earlier this month. The token rallied by around 20% and approached the $0.10 level, but buying momentum faded before it could break above that resistance. Since then, sellers have regained control, pushing the price back toward the lower end of its recent trading range.
PI Price Struggles Below Key Resistance
PI attempted to recover after finding support near its all-time low. The rebound attracted attention as the token became one of the stronger daily performers for a short period. However, the recovery stalled as the price failed to move above the $0.10 resistance level.
Following that rejection, the token gradually lost momentum. It managed to remain above $0.09 for several days before another wave of selling pressure pushed it lower. At the time of writing, Pi Network is near $0.082, placing it well below the level that many traders were watching for a stronger recovery.
Pi Network Price Faces Familiar Pattern
The recent decline follows a pattern that has appeared several times over the past year. Pi Network price has often traded within a stable range for weeks before falling to new record lows. Those declines were usually followed by sharp rebounds, but the recoveries failed to hold.
Each recovery has ended with another rejection near resistance, leading to fresh lows. The latest price action reflects a similar sequence. Unless the token establishes support and attracts sustained buying activity, the market may continue to follow this trend.
The project itself has continued to release updates, including protocol improvements and product changes. However, those announcements have not produced lasting support for the token’s market price. At the same time, ongoing daily token unlocks have continued to add supply to the market.
Support at $0.07 Remains in Focus
Technical traders continue to watch two important price levels. The first is the $0.10 resistance, which remains the main barrier before any broader recovery can develop. A move above that level could improve market sentiment and strengthen buying interest.
On the downside, the all-time low near $0.07 remains the closest major support. If that level fails to hold, Pi Network price would enter price discovery with no historical support below its current range. The token has also slipped in market capitalization rankings, falling from the top 50 to outside the top 70 within weeks, raising the possibility of further declines if selling pressure continues.
