Pi Network Value Drops 29% in Week, Market Cap Falls to $5.5 Billion

Pi Network (PI) has experienced significant selling pressure, with its value dropping by more than 9% in the last 24 hours and 29% over the past week. This decline has led to a substantial reduction in its market capitalization, which has fallen to $5.5 billion from its peak of $19 billion at the end of February.

Technical indicators suggest that sellers are currently in control, with no strong signs of a momentum reversal. The Average Directional Index (ADX) for Pi Network has climbed to 34.99 from 25.1 just a day ago, indicating a strong increase in trend strength. Values above 25 suggest a strong trend is forming, and readings over 30 confirm it. With the ADX nearing 35, Pi Network is firmly in trending territory. However, it is crucial to identify the direction of that trend.

The Directional Indicator for bearish pressure (-DI) has risen to 31.55 from 25.31, while the bullish pressure (+DI) has dropped to 9 from 15.59. This widening gap between the two indicators confirms that the downtrend is strengthening. Unless the trend reverses soon, Pi Network could continue to face further downside pressure in the short term.

Pi Network’s Chaikin Money Flow (CMF) is currently at -0.23, a notable drop from 0 just two days ago. The CMF is a volume-weighted indicator that measures buying and selling pressure over a set period, typically 20 or 21 days. Values above 0 suggest accumulation (buying pressure), while values below 0 indicate distribution (selling pressure). The further from zero, the stronger the pressure in that direction.

With a reading of -0.23, Pi Network’s CMF is at its lowest level ever, showing heavy and persistent outflows. Notably, the indicator hasn’t turned positive since March 15—nearly 15 days ago—highlighting sustained selling activity. This deep negative value signals a strong bearish bias, suggesting that capital is consistently leaving the market. Unless the CMF begins to recover, the ongoing distribution phase could continue to weigh on Pi Network’s price.

Pi Network's price chart shows a critical support level at $0.718, which has held the price up in recent sessions. If this level is lost, it could trigger a sharper drop toward $0.62, marking the lowest price since February 21. On the flip side, if Pi Network manages to reverse its trend and regain momentum, the first key resistance to watch is at $1.05. A breakout above that could open the path toward $1.23, and if bullish sentiment returns, the price could climb as high as $1.79. That would represent a potential 54% upside from current levels, but it would require a strong shift in momentum and renewed market hype.

In summary, Pi Network is currently under heavy selling pressure, with technical indicators suggesting a strong downtrend. The coming days will be critical in determining whether the network can stabilize or continue its slide. Investors and traders should closely monitor key support and resistance levels, as well as changes in technical indicators, to make informed decisions.