Pi Network (PI) is currently priced at $0.156695, reflecting a significant 24-hour decline of 6.33%. The asset is trading within a daily range of $0.021451, with a high of $0.174146 and a low of $0.152695, indicating increased volatility during this period.

Volume stands at approximately 30.04 million, resulting in a low volume-to-market cap ratio of 2.22%, suggesting limited investor interest at current price levels. The hourly moving averages indicate bearish sentiment across all timeframes, with the 8 SMA at $0.1655 down 5.33%, and the 144 SMA at $0.1695 down 7.57%, reinforcing the downward pressure on the price.

The Relative Strength Index (RSI) readings highlight extreme weakness, with the 1-hour RSI at 9, indicating oversold conditions. In contrast, the 7-day RSI of 43 suggests potential stabilization, though it remains below the 50 neutral mark, signaling a lack of momentum for a recovery.

Over the past week, PI has seen a price drop of approximately 13.95%, and the 14-day and 30-day price changes reveal a broader downtrend of 23.41% and 23.32%, respectively. This consistent decline further supports the notion that current market sentiment is bearish, and potential buyers should be cautious.

Given the current technical indicators and the persistent downtrend, the recommendation is to hold. Entering a position now may lead to further losses as the asset remains in a weak position, and a more favorable entry point may emerge if the price stabilizes above key moving averages.