The indicators of Pi Network are still pessimistic – Is there any chance for PI to bounce back?

In the past 30 days, Pi Network (PI) has witnessed a fall of 14%, with market capitalization dropping below 5 billion dollars and the price trading below 1 dollar since May 14.

The technical indicators are currently showing a continuing downtrend, as PI struggles to break through key resistance levels. The Ichimoku cloud, BBTrend indicator, and EMA lines all indicate prolonged weakness and a lack of confirmation for a bullish trend. If momentum does not change in the near future, PI may face deeper declines before any signs of recovery appear.

Pi Network faces strong resistance

According to the analysis from the Ichimoku cloud, PI is still under strong bearish pressure. The current price is still trading below the red cloud, indicating that the bearish momentum is still dominant. The Leading Span A (green line) is currently still below the Leading Span B (red line), reinforcing the bearish structure of the cloud in the future.

The cloud is wide and in a downtrend, indicating that any potential reversal will face significant resistance in the near future.

The Ichimoku cloud of PI | Source: TradingView. The Tenkan-sen (blue line) is currently flat and hovering near the Kijun-sen (red line), indicating weak short-term momentum and uncertainty in market sentiment. Furthermore, the price candles are being compressed within a narrow range, indicating consolidation without clear breakout signs.

The trend remains negative until the price can decisively break through the cloud and the indicators shift to an upward trend.

PI BBTrend is stable, but the falling conditions still exist.

Pi continues to show weak momentum with the BBTrend indicator currently at -2.21, almost unchanged over the past two and a half days. This indicator has remained in the negative zone for the past 14 days, with a strong bearish peak recorded at -18.7 a week ago.

Although the recent stability suggests that the downtrend may be losing momentum, PI has not yet shown signs of a meaningful bullish reversal.

BBTrend of PI | Source: TradingViewBBTrend (Bollinger Band Trend) measures the strength and direction of price movement relative to the Bollinger bands. A positive value of this indicator indicates bullish momentum when the price pushes up to the upper band, while a negative value reflects bearish conditions with the price near the lower band.

Currently, the BBTrend of PI is at -2.21, reflecting a slight bearish stance—less extreme than before, but still lacking upward pressure. The indicator needs to move past the positive zone and maintain itself for market sentiment to change.

PI can activate a 37% growth

The current price of PI is in a bearish technical setup, with the EMA lines indicating that the short-term average is below the long-term lines. This arrangement confirms the continuation of the downtrend unless there is a strong change in momentum.

If selling pressure increases, PI may retest key support levels, and a breakdown would mark the first time this asset falls below a significant historical threshold, increasing the risk of a decline. However, if buying pressure increases, PI may test resistance at the next important EMA area.

A successful breakout above that level, supported by strong momentum, could open the door for a broader recovery. In a bullish scenario, PI could approach higher resistance targets, offering growth potential exceeding 35%.

Mr. Teacher