The index collapsed 40% this week after a massive sell-off that pushed it to all-time lows. However, it has risen 10% since those lows, raising the question of whether or not the bottom has been reached.
Price Forecast of PI Network (PI): Analysis
Key support levels: $0.07
Major resistance levels: $0.10, $0.13, $0.16
PI crashed to $0.07
The PI just had one of its worst weeks of 2026 after the price lost support at $0.10. With this level turning into resistance, sellers rushed out and sent the price falling to $0.07, which became its latest record low.
As confidence disappeared, buyers disappeared. For example, in the last 10 days, only one day has closed in the green. This indicates that the trend is very bearish and that the downtrend has entered a new phase where the bottom can be found much faster.
More positive news has been reported in the past few hours, with the price index finally rebounding to $0.08 at press time. However, it remains to be seen whether this is another dead bounce.
Selling volume exploded
Once the support at $0.10 was lost, selling volume started to rise. This made matters worse and would likely lead to cascading liquidations adding further pressure on the declining price.
While selling pressure has decreased compared to yesterday, the day is not over yet, and this could still change. The price settled above $0.07 and rebounded to $0.08, but this may only be a temporary pause before new lows.
Momentum indicators are at the extreme
Due to intense selling pressure, momentum indicators have reached extreme levels. For example, the daily Relative Strength Index (RSI) is 12 points, which is a level never seen before for this cryptocurrency. The ends are also where the bottoms are.
Hopefully this price action will end the downtrend and allow PI to consolidate and confirm the bottom. If the support at $0.07 does not hold, buyers will likely retreat to $0.06 or even $0.05. Current resistance is at $0.10.
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