PI sellers have returned in force and, according to technical analysts, now threaten to reverse most of the recent gains in PI Network (PI). The market outlook presented in the analysis highlights a shift to bearish momentum after the price fell back under 20 cents this week and retreated by more than 40% from a recent peak near 30 cents. Key levels cited include support at $0.15 and resistance at $0.20 and $0.28, framing a market that has lost upside traction and is struggling to stabilize.

Market Outlook

Analysts describe a market that has turned decisively lower following an unsuccessful push through 28 cents. The brief move above the 28-cent resistance is characterized as a bull trap, with the subsequent failure to hold that level marking a critical weakness signal. Once momentum faded, sellers pressed their advantage and pushed the price beneath 20 cents, a move that underscores the transition from a bullish rebound to a bearish downswing.

The immediate focus, as outlined in the analysis, is the $0.15 area. This level is presented as the most likely zone where the current downtrend could pause. The outlook emphasizes that PI bulls need to defend $0.15 to avoid giving back the entirety of the latest advance and prevent the market from opening the way to new lows later on. In the near term, a test of this support is considered likely, with the reaction there expected to offer important clues about the next directional move.

Analyst Views

Commentary in the report points to “extremely aggressive” selling since the swing high near 30 cents. The failed breakout above 28 cents is framed as the pivotal moment that emboldened bears and turned sentiment. According to the analysis, this breakdown was quickly followed by a pattern of lower highs and lower lows—classic hallmarks of a developing downtrend—signaling that sellers remain in control for now.

Analysts also stress that the current backdrop does not show evidence of an imminent reversal. The tone remains cautious, with the prevailing view that any recovery attempts are likely to be constrained by nearby resistance levels at $0.20 and $0.28 unless momentum indicators improve and selling pressure subsides.

Key Levels

The analysis sets out a clear framework of reference points. Support is identified at $0.15, a level considered critical for maintaining the integrity of the prior upswing. Resistance is mapped at $0.20 and $0.28. These thresholds serve as guideposts for traders assessing whether the market is consolidating, reversing, or merely staging temporary bounces within a broader decline.

The move under 20 cents this week is treated as further confirmation that sellers have the upper hand. Should price action stabilize above $0.15, analysts suggest it could mark the first step toward reducing downside pressure. By contrast, failure to hold that support would, in their view, risk unwinding the bulk of recent gains and could expose PI to deeper retracements.

Technical Signals

Beyond price levels, the analysis highlights a spike in sell volume during the most recent rally as an early reversal indicator. Rising sell volume while prices push higher is often interpreted by technicians as distribution, implying that participants used strength to reduce exposure. This was followed by the formation of lower highs and lower lows, aligning volume and price behavior with a deteriorating trend.

Momentum gauges are described as adding to the bearish case. Analysts note that the daily MACD turned negative last Sunday, a development that coincided with an acceleration of the decline. Since then, there have been no clear signs that the downtrend is abating. As a potential early signal of stabilization, the outlook points to the daily MACD histogram: if it stops making lower lows, it could indicate fading seller momentum and an opening for buyers to attempt a rebound.

What to Watch

In the near term, the analysis urges close monitoring of the $0.15 support as the key battleground between bulls and bears. A firm hold above that level could help slow the decline and offer a platform for testing overhead resistance at $0.20 and $0.28. Conversely, a breakdown through support would, in the analysts’ view, confirm that sellers remain firmly in control and that the risk of revisiting lower price areas persists.

Until momentum indicators improve and the pattern of lower highs and lower lows is invalidated, the report maintains a cautious stance. The conclusions presented are technical in nature and reflect market forecasts rather than investment advice, with the emphasis on watching how price interacts with established levels and whether momentum begins to shift away from sellers.