Pi Network (PI) is currently trading at $0.172367, reflecting a significant decline of 12.57% over the last 24 hours. The price has fluctuated between a high of $0.205874 and a low of $0.167808 during this period, indicating high volatility with a daily range of approximately 22.06%.

The trading volume stands at 65,555,037, which represents 4.23% of the market cap, suggesting a moderate level of trading activity relative to its market size. Analyzing the hourly moving averages, the 8 SMA ($0.1759) and 21 SMA ($0.1765) are both showing negative trends, while the 144 SMA at $0.1512 indicates stronger bullish momentum over a longer timeframe, up 14% from prior levels.

The Relative Strength Index (RSI) for the hour is at 48, which signals a neutral position, while the 7-day RSI at 56 indicates slightly bullish sentiment. The recent price changes reflect an 18.65% increase over the past week, contrasted with a decline of nearly 16% over the last 30 days, highlighting short-term recovery amidst long-term pressure.

In terms of technical analysis, the lack of sustained upward momentum, paired with the recent negative price action, suggests that investors may be facing resistance at the current levels. Given that the current price is significantly below the all-time high of $2.99, there is potential for recovery, but short-term indicators do not support immediate bullish sentiment.

Considering the current data and market behavior, a cautious approach is warranted. Therefore, the rating for Pi Network (PI) is a Hold. This stance reflects the potential for recovery while acknowledging the current bearish trend and market volatility.