Pi Network (PI) is currently trading at $0.20566, reflecting a slight decline of 1.33% over the past 24 hours. The daily price range has been relatively tight, with a high of $0.209322 and a low of $0.205444, indicating low volatility in the short term.

The volume of 11,091,509 suggests moderate trading activity, but the volume to market cap ratio of 0.64% indicates that liquidity may be constrained. The moving averages are all trending downward, with the shorter 8 SMA at $0.2065 down 0.41%, and the 144 SMA at $0.2087 down 1.46%, reinforcing the bearish sentiment.

Technical indicators show a stark divergence in momentum; the 1-hour RSI is at a critical low of 24, indicating oversold conditions. Meanwhile, the 7-day RSI at 43 indicates weakening momentum, suggesting potential further downside if selling pressure continues.

In terms of price changes, the 7-day price change shows a decline of approximately 3.55%, while the 14-day change indicates a slight recovery of 1.77%. However, the 30-day price change is negative, at -1.15%, further confirming the bearish trend over the longer term.

Historically, PI reached an all-time high of $2.99 in February 2025, but it currently trades at a significant discount from that peak. Given the current technical indicators and price action, the asset lacks bullish momentum and faces resistance from the declining moving averages.

Considering the overall data, the market sentiment is leaning towards bearish, with insufficient positive momentum to warrant a buy. Therefore, the recommendation for Pi Network (PI) is to Hold, as the asset is currently in a precarious position and may require further stabilization before making a bullish case.