Pi Network price drops for a third day: is $0.07 back in play?

Pi Network (PI) has extended its losses for the third consecutive day, dropping below the $0.0875 support level to now trade at $0.085. 

The token remains capped below the psychologically important $0.1000 level as weakening sentiment across the broader cryptocurrency market limits its recovery prospects.

Demand in the PI derivatives market remains relatively firm, with futures Open Interest holding above $9 million. 

However, the token’s technical structure continues to favor sellers as it struggles to generate sufficient upward momentum.

PI futures Open Interest holds above $9 million

The broader cryptocurrency market continues to face recurring bearish pressures, maintaining a downside bias among major digital assets and altcoins.

Bitcoin’s latest pullback has contributed to the weaker market sentiment.

Reports that MARA Holdings and Strategy reduced portions of their BTC exposure have also weighed on investor confidence, increasing pressure on risk-sensitive altcoins such as Pi Network.

Despite the unfavorable market environment, positioning in the PI futures market has remained stable.

CoinAnk data shows that Pi Network’s Open Interest rose to $9.16 million on Tuesday from $9.02 million during the previous session. The increase indicates a modest inflow of capital into outstanding futures contracts.

Open Interest measures the total value of unsettled derivatives positions. Rising Open Interest generally indicates that traders are opening new positions rather than exiting the market.

However, the metric does not indicate whether those positions are bullish or bearish.

With PI’s price under pressure, the increase could reflect traders positioning for either a rebound or an extended decline.

Pi price forecast: PI continues to struggle below $0.10

Pi Network continues to trade well below the $0.1000 psychological threshold, which remains its primary near-term resistance.

The failure to reclaim this level keeps the broader price structure bearish and suggests that sellers remain in control. 

The $0.08397 level represents a crucial support zone that could determine whether PI stages a recovery or extends its decline.

A successful retest of the broken trendline and support could attract buyers seeking a discounted entry. 

However, the token must generate stronger momentum to confirm that a sustainable rebound is underway.

Momentum indicators on the daily chart present a mixed outlook.

The Relative Strength Index stands at 36, indicating that PI is approaching the oversold territory. 

If the RSI drops below 30, it would suggest that selling pressure may have become excessive and that the token could be approaching a short-term rebound.

However, oversold conditions do not necessarily signal that the decline has ended. An asset can remain oversold for an extended period during a strong bearish trend.

The Moving Average Convergence Divergence indicator offers a modestly positive signal. 

The MACD line remains slightly above its signal line, suggesting that bearish momentum may be losing intensity.

Together, the RSI and MACD readings indicate that the sell-off may be stretched, but buyers have yet to establish clear control.

If Pi Network holds the $0.08397 support level, the token could attempt a recovery toward the 50% Fibonacci retracement level at $0.10221.

A move above that level would also place PI back above the psychological $0.1000 threshold, potentially improving short-term sentiment and attracting additional buying interest.

If bullish momentum continues, the next major resistance would be at the $0.11905 level.

Conversely, a decisive close below $0.08397 would weaken the rebound scenario and suggest that the broken trendline has failed to provide support.

Such a breakdown could expose Pi Network to an extended decline toward the psychological $0.07000 level, located close to the previous swing low of $0.07032.

For now, firm futures-market activity and oversold momentum provide some hope of a recovery. 

Nevertheless, PI must defend $0.08397 and reclaim $0.1000 to establish a more convincing bullish outlook.