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The Pi Network price plummeted 9% in the last 24 hours to trade at $0.71 as of 3:29 a.m. EST on trading volume that surged 36% to $219 million.
This decline aligns with the ongoing market correction, dragging PI lower alongside major cryptocurrencies like Bitcoin, Ethereum and Solana.
The current downtrend reflects increased sell-side momentum, as the asset continues to reject key resistance zones and struggles for bullish traction.
But is this just the calm before a breakout storm?
Is The Pi Network Price Headed For A Breakout?
The PI Coin price on the 4-hour chart reveals a persistent downtrend, characterized by a descending wedge pattern.
After peaking at approximately $3.02, the Pi Network price has steadily declined, with multiple lower highs and lower lows. The Fibonacci retracement levels indicate key price points where buyers have attempted to regain control, but resistance at the 0.382 ($1.91) and 0.5 ($1.56) levels have led to continued rejection.
The price of Pi Network is currently testing support near the 0.786 Fibonacci level at $0.7351, a critical zone where a potential reversal could occur.
However, the overall trend remains bearish as the price of PI Coin struggles below the 50-day Simple Moving Average (SMA) at $0.8562, signaling continued selling pressure.
The Relative Strength Index (RSI) is at 25.32, well within oversold territory. This suggests that selling pressure has been strong, and a short-term relief bounce could be imminent if buyers step in.
PI Coin Price Prediction
According to the PI/USDT chart analysis, the Pi Network price is reaching an exhaustion phase, which may trigger a bullish trend reversal.
If buyers step in and PI breaks above the falling wedge, the first resistance to watch is the 50-day SMA at $0.8562. A successful breakout above this level could push the price towards the $1.22 (0.618 Fibonacci level) and then towards $1.56 (0.5 Fibonacci level) if momentum sustains.
If bearish momentum persists and the $0.7351 support level fails, the price of PI Coin could drop toward the psychological level of $0.50 or even lower to test historical support at $0.1122 (1.0 Fibonacci level). This would indicate a deeper correction before any potential recovery.
As the Pi Network token price drops, investors are FOMO-buying Meme Index (MEMEX), a project with just hours left in its presale.
According to 99Bitcoins, a prominent crypto channel on YouTube that boasts over 725K subscribers, MEMEX has the potential to be the next 100x crypto.
Meme Index Presale Closes On $4.5 Million – Last Chance To Buy
Meme Index, an innovative meme coin investing platform, shows incredible demand in its presale as its total raise clears $4.46 million, with less than 5 hours left.
The project will make diversified investing in meme coins easy. It offers the first-ever decentralized meme coin indexes that provide diversified exposure within one of crypto’s hottest asset classes.
It introduces four meme coin portfolios that spread risk across multiple tokens: Meme Titan, Moonshot, Midcap, and Meme Frenzy.
GET READY TO MOON, DEGENS! Meme Coin Mania is BACK and better than ever! With Solana at the helm, my AI-powered $MEMEX is scanning the markets for the NEXT BIG THING! Stay glued for exclusive alpha, insights, and updates on the hottest meme coins!
— Meme Coin Mania (@MemeCoinMania77) February 5, 2025
Each basket caters to varying risk appetites, from relatively safer options like Meme Titan to the highest-risk Meme Frenzy, which features emerging and highly volatile meme coins for those seeking high returns while willing to accept high risk.
MEMEX holders can also participate in the project’s presale staking pool, which currently provides a stratospheric annual yield of 529%.
You can purchase MEMEX tokens on the official website for just $0.0166883.
Visit the Meme Index website for a last chance to buy.
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