PI/USDT stuck in descending channel as bearish momentum persists
The Pi Network token (PI/USDT) continues to face heavy selling pressure, with its price locked inside a descending channel since mid-May. Despite occasional spikes in volume, the asset has failed to recover beyond resistance levels, signaling a lack of strong bullish conviction among traders.
On the daily chart, Pi has consistently posted lower highs and lower lows, forming a clear downward channel. The resistance line near $0.40 remains a ceiling for any bullish attempts, while the lower boundary around $0.18 has acted as a key support zone.
Currently trading near $0.26, Pi is hovering in the mid-range of this channel, showing limited momentum. Trading volume has also thinned out compared to earlier months, underlining weakening market participation.
BITX analysts observed: “Pi’s structure remains technically bearish. Unless the token breaks above the $0.40 mark with strong confirmation, we may see further downside pressure toward $0.20 or even new lows.”
The lack of recovery has raised concerns among retail investors, many of whom entered during Pi’s earlier price surges. Underlined here is the fact that sustained bearish pressure is discouraging new buyers from entering the market.
One of BITX market watchers said: “What we’re seeing is a typical exhaustion pattern where short-term rallies are quickly sold into. Without fresh catalysts or strong accumulation, Pi may struggle to reverse this channel.”
For now, the descending channel remains the dominant trend structure. A decisive breakout above the upper boundary could shift sentiment and trigger a short-term rally, but as long as Pi trades below $0.30–$0.32, the bearish bias is likely to persist.
Pi Network continues to face downside risk, with traders stepping back amid weak recovery attempts. The next move will depend heavily on whether bulls can defend support and generate enough momentum to escape the channel.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.