Will PI extend losses amid persistent downward price move?

Traders Union
All News
Crypto
Pi falls 7.32% today to $0.0656

Highlights

Pi Network announced new developer-focused updates aimed at expanding its ecosystem ahead of its first major Ecosystem Summit in mid-November.
The upcoming Ecosystem Summit from November 17 to 19 represents the network's largest event designed to attract broader developer engagement.
PI trades below key moving averages with bearish momentum, and the expected price range for the next days is $0.0596 to $0.0684.

Developer update boosts engagement ahead of summit amid selling pressure

Pi Network’s Core Team published a developer-oriented update highlighting project advantages in the days leading up to its first Ecosystem Summit, according to Kucoin. This communication is aimed at attracting new and existing developers by emphasizing the network’s appeal, which may enhance community awareness ahead of major project milestones. Additionally, Pi Network is preparing to host its largest Ecosystem Summit from November 17 to 19, encouraging further developer participation, as reported by CryptoPotato, though price action has remained under broader selling pressure.

Technical weakness sustained as sellers dominate and resistance holds

PI is trading below its MA-20 at $0.0684, MA-50 at $0.069, and MA-200 at $0.1067. Immediate resistance is established by the Ichimoku Kijun at $0.0693, while support is identified at $0.0596. MACD and ADX are both in sell mode, Bull/Bear Power remains negative, and intraday volatility is high. RSI and CCI are neutral, but Stoch RSI is overbought, which suggests the potential for a short-term pullback rather than a reversal. These factors indicate seller dominance and reinforce the existing technical weakness.

Downtrend risk elevated as consolidation precedes potential breakout

In the near term, PI is expected to consolidate within the range of $0.0596 to $0.0684, reflecting typical volatility relative to current levels. There is a very high probability of a continued decline, and the likelihood of a reversal remains extremely low. If the price breaks above the $0.0693 resistance, a short-lived bullish scenario may unfold. Conversely, a slip below $0.0596 would likely extend the current downtrend.

Anton Kharitonov, expert at Traders Union, sees ongoing selling pressure dominating PI’s technical picture. He notes that developer-focused news and the upcoming summit have failed to spark renewed demand, while all major indicators confirm seller control and weak sentiment. Key supports and resistances remain in play, but any bullish move is likely to be short-lived unless $0.0693 is reclaimed. "Until the price breaks above its nearest resistance, the downtrend remains firmly in control."

Earlier, analysts noted that Pi’s recovery above key moving averages signaled a technical shift toward sustained upward momentum given heightened developer activity. The current deterioration below those averages marks a reversal of that outlook, with continued consolidation and downside risk prevailing as the critical levels to monitor.

Source of Data: PI Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.