Pi Network Collapses, Shattering Critical Support
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Price Analysis – PI Breakdown Signals a New Wave of Selling
Pi Network has experienced a catastrophic bearish breakdown, with the price collapsing and shattering a critical, long-standing support level. After months of low-volatility, sideways trading, a Bollinger Band squeeze has resolved with a violent move to the downside. This development marks the end of the consolidation phase and the beginning of a new, aggressive downtrend.
Pi/USD Key Levels
Support: $0.1830, $0.1400
Resistance: $0.3094, $0.4899
The daily chart for PI/USD tells a clear story of a market in distress. For months, the price held steady above the $0.3094 support level, causing the Bollinger Bands to tighten into an extreme squeeze. This indicated a major move was imminent, and that move has now materialized as a powerful bearish breakdown.
A massive red candle has driven the price far below both the support level and the lower Bollinger Band.
This violent expansion of volatility is a strong signal that sellers have taken complete control. The bearish momentum is confirmed by the Relative Strength Index (RSI), which has plunged deep into oversold territory with a reading of 27.71. With the previous support floor now broken, the next logical target for sellers is the major support level at $0.1830.
Market Expectation
The market has collapsed through its previous trading range, and the Bollinger Bands have expanded dramatically to the downside. The price is currently riding the band, pinned to the lower Bollinger Band, which is a classic sign of a powerful and active downtrend. The severity of the sell-off is captured by the RSI, which has hit an extremely oversold level of 9.02. This indicates a complete capitulation by buyers and an environment of overwhelming selling pressure.
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