PI Network (PI) continued its sharp decline this week, losing 11% after breaking below the key $0.13 support. The token is now trading around $0.11, dangerously close to the psychological $0.10 level. Buy volume remains weak and sporadic, with sellers dominating the chart over the last two weeks. The daily RSI has stayed below 50 since May and recently dipped under 30, indicating extreme oversold conditions, but historically such moves have not marked a reversal for PI.
The drop came despite a series of ecosystem updates unveiled on Pi2Day (June 28), including SoloHost, Pi Sign-in, and PiVerify. These tools aim to push the network beyond native apps into AI and digital identity, but the community showed little enthusiasm, and PI hit a new all-time low. Market capitalization has slipped to about $1.2 billion, placing it as the 57th-largest cryptocurrency.
Nevertheless, some traders see potential for a relief rally. The RSI at 14 signals an extreme oversold level that could prompt a short-term bounce. Additionally, upcoming token unlocks amount to just over 127 million PI in the next 30 days, a marked decline from previous months, which may ease selling pressure. Major support is seen at $0.10, while any recovery would need to clear $0.13 and $0.16 to change the bearish structure.
