Gate News reports that on March 24, the price of Pi Network (PI) continued to weaken, currently at $0.1897, down more than 33% from the March 13 high of $0.2990. The daily chart shows that PI is forming a typical double-top pattern and is gradually approaching the historical low zone around $0.1300, but this pattern will only be confirmed if key support levels are effectively broken.
Market signals indicate increasing selling pressure. The MFI indicator previously reached over 83 in mid-March but has since quickly fallen back, now around 43, declining for 10 consecutive trading days without a significant rebound. If it drops below 40, it could further enter a phase dominated by capital outflows, exerting continuous downward pressure on the price.
Meanwhile, the correlation between PI and Bitcoin has fallen to -0.27, turning negative for the first time since February. This suggests that PI’s movement is no longer following Bitcoin’s fluctuations; even if Bitcoin rebounds, it is unlikely to lift PI in tandem, as the price is more driven by its own selling pressure.
From a technical perspective, PI is currently constrained by the $0.1940 moving average, indicating a short-term bearish trend. Key support levels are at $0.1597, $0.1527, and $0.1415. If the price breaks below $0.1415, it may further test the $0.1300 historical low zone.
However, if PI can close above $0.1940 and break through the critical retracement level at $0.2103, it would weaken the current bearish structure and open up room for a rebound. Until then, the market should remain cautious of continued downside risks.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Pi Network Requires Mainnet Upgrade to v22.1 by April 27 or Risk Disconnection
Pi Network announced a mandatory upgrade to Protocol version 22.1, requiring completion by April 27, 2026, to maintain network connection. The upgrade is seen positively for enhancing security and performance, with next version expected by May 11, 2026.
GateNews14h ago
Pi Network V23 Upgrade to Launch Smart Contracts, DApp Ecosystem, and DEX Next Month
Pi Network will launch its V23 upgrade next month, featuring smart contracts, a DApp ecosystem, and a decentralized exchange. With over 18 million KYC-verified users, this upgrade moves Pi towards practical applications and utility in its ecosystem.
GateNews04-16 05:41
Pi Network Agreement 23 Targets the Institutional Market, Smart Contracts, and RWA Tokenization to Launch in Early May
Pi Network officially went live with Protocol 23 on May 18, bringing smart contracts, real-world asset tokenization, and the AI App Studio, enabling Pi to transform from a payment token into a programmable blockchain infrastructure. The protocol covers four major functions, similar to Ethereum, and is expected to attract institutional investors. The upgraded node milestones signal market confidence and may affect Pi’s price performance.
MarketWhisper04-15 03:02
Pi Network 18 million users complete KYC, and 26.5 million PI are issued to verifiers
Pi Network distributes 26.5 million PI tokens to more than 1 million community members who have completed KYC verification, to accelerate user identity verification and strengthen the decentralized model. 18 million already-verified users have laid the groundwork for the ecosystem’s development, but the key lies in how to convert these users into active participants. With the protocol upgrade, Pi Network is moving toward the open network phase, and smart contract support signals richer application scenarios.
MarketWhisper04-14 05:07
Pi Network price hits a new 7-week low as a wave of 60 million token unlocks comes in
Pi Network's native token PI fell to $0.165 in April, hitting a 7-week low and leaving market sentiment weak. The unlock peak will release more than 60 million PI, adding downward pressure. Despite the core team recently publishing technical updates, it failed to improve market confidence and instead drew community criticism due to KYC access issues and the ongoing slide in price. Increased future supply could further drive prices lower.
MarketWhisper04-14 02:50
Pi Network Distributes 26.5M PI to 1M KYC Validators
Pi Network has taken another step forward in building its ecosystem. The project recently distributed 26.5 million PI tokens to more than 1 million KYC validators.
These rewards were given to users who helped verify identities on the network. This process is important. Because it ensures that
Coinfomania04-13 13:30
