Pi Network (PI) is currently trading at $0.246349, reflecting a significant decline of 7.16% over the past 24 hours. The price has experienced a daily range between $0.244841 and $0.267112, indicating volatility but maintaining a low trading volume of approximately $38.4 million, which is only 1.87% of its market cap.

Technical indicators reveal a bearish trend with all short-term moving averages (8, 13, 21, and 55 SMA) displaying declines ranging from -3.14% to -5.36%. The 1-hour RSI is at a critical level of 26, suggesting oversold conditions, while the 7-day RSI at 51 indicates a neutral stance, though the recent price changes show a lack of upward momentum.

Fundamentally, the price change over 30 days is down 5.72%, contrasting with a more favorable 14-day increase of 12.87%. This suggests a potential recovery in the near term, but the overall bearish sentiment from recent declines raises concerns about immediate performance.

Given the high volatility and the current market conditions, the recent price drop alongside negative short-term moving averages indicates a lack of buying strength. Therefore, a Hold rating is recommended, as the asset may stabilize and provide better entry points for accumulation in the coming days, especially considering the oversold RSI condition.