Pi Network (PI) is currently priced at $0.165758, reflecting a 24-hour change of -4.76%. The daily trading range has been narrow, between a high of $0.174046 and a low of $0.16482, indicating a lack of significant volatility in recent trading sessions.

The trading volume of 14,740,526 suggests a moderate level of activity, with a volume-to-market cap ratio of 1.06%. This indicates that while there is some trading interest, it is relatively low compared to the overall market cap, which may impact price stability.

Technical indicators reveal a bearish trend, particularly highlighted by the moving averages. The 8-period SMA at $0.1674 and the longer-term SMAs show consistent declines, with the 144 SMA at $0.1762 indicating a significant resistance level.

The RSI metrics are concerning, with the 1-hour RSI at 29 signaling oversold conditions, while the 7-day RSI at 40 indicates continued downward momentum. Price changes over the past week, 14 days, and 30 days show significant declines of -10.98%, -20.19%, and -18.17%, respectively, suggesting sustained negative sentiment.

Fundamentally, the asset is far below its all-time high of $2.99 reached in February 2025, raising questions about its future price potential. Given the current market conditions, including the bearish technical indicators and negative price trends, the outlook appears pessimistic.

In conclusion, the overall analysis indicates a Sell rating for Pi Network (PI). The combination of bearish technical indicators, low trading volume relative to market cap, and consistent price declines suggests that the asset is likely to face further downward pressure in the near term.