Pi Network (PI) is currently trading at $0.240095, reflecting a 6.87% decline over the last 24 hours. The price action has remained within a daily range of $0.236542 to $0.2601, indicating volatility but also a potential support level at the low end.

Volume has reached 73,679,493, translating to a market cap volume ratio of 3.69%, suggesting relatively low liquidity compared to market capitalization. The hourly moving averages indicate bearish momentum, with the 8 SMA at $0.2430 and trending downwards, while the 55 SMA at $0.2369 shows some potential support with a slight upward movement.

The 1-hour Relative Strength Index (RSI) is at 45, indicating a neutral market sentiment, while the 7-day RSI at 55 suggests slight bullish momentum over a longer timeframe. Furthermore, the recent price changes—10.93% over the past week and 18.04% over the last month—indicate a recovering trend, albeit recent daily performance is negative.

Technical indicators highlight resistance around $0.2601, with significant support likely at $0.2365. The short-term bearish trend may be softened by the longer-term momentum observed in the 14-day and 30-day price changes, which show positive performance.

Given the current price movement, bearish short-term indicators, and potential support levels, a cautious approach is warranted. A Hold rating is recommended, as the price may stabilize or recover slightly, but the recent downtrend and overall market sentiment do not favor aggressive buying at this moment.