Pi Network (PI) continued to face downward pressure on Friday, as bearish technical indicators continued to dominate the charts, fueling bearish risks despite the launch of various initiatives by the project to promote its ecosystem.
At the time of writing, PI is trading at $0.1832, down 2.04% over the last 24 hours, with daily trading volume of $19.42 million and an estimated market capitalization of $1.54 billion, according to data from CoinMarketCap. The decline comes amid fragile broader altcoin sentiment, leaving lower-liquidity tokens vulnerable to extended weakness.
From the technical standpoint, PI continues to be in an ongoing downtrend in the weekly chart. This is due to the formation of consecutive red candles, implying an increased possibility of an all-time low in the event of an inability to hold the current support levels. This is according to the views of various analysts.
However, some early signs indicate that the bearish momentum could be weakening somewhat. For instance, in a technical analysis shared publicly recently by crypto analyst CryptoPulse on the technical trends in the crypto market, the analyst identified a bullish divergence on the Relative Strength Index (RSI).
As per the above analysis, PI may be trying to create a Double Bottom formation, as this formation is often tracked for the reversal of the trend.
However, the key level of resistance to be tracked is between $0.25 and $0.29; this range represents the neck of the formation. To track the change in the trend of the asset, the asset needs to move above this range.
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Beyond price action, Pi Network continues to move forward with its development roadmap. This includes recent announcements regarding Pi App Studio, which highlighted the team’s intentions regarding further app creation throughout 2026. This includes new initiatives geared towards creators.
According to the update, the new tools are meant to help developers make Pi-based payments with a simplified, interactive process that does not require advanced technical expertise. There is also the offer of a free-of-cost option that Pi Network is providing, which is meant to make the process even more accessible.
Additionally, as part of this initiative, the members of the community, known as the Pioneers, have the opportunity to take a short survey through the App Studio Program. They will receive 5 PI credits if they are part of the first 1,000 participants, which can only be used within the App Studio environment.
These efforts will accelerate the testing, development, and usage of the Pi Network applications. Although the short-term performance of the market is challenged, the long-term outlook of PI can be influenced if the broader market conditions improve.
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