Pi Network (PI) is currently trading at $0.136515, reflecting a 2.70% decline over the past 24 hours. The daily price range has been relatively tight, with a low of $0.135689 and a high of $0.140597, indicating limited volatility in this timeframe.

Volume stands at 12,048,084, with a volume-to-market cap ratio of 0.98%, suggesting moderate trading activity. The hourly moving averages are showing bearish sentiment, with the 8 SMA at $0.1368 and a downward trend persisting across longer-term averages, indicating weakness in the price action.

The 1-hour RSI is at 39, signaling that PI may be oversold in the short term, while the 7-day RSI at 42 indicates a bearish trend over the past week. Notably, the asset has experienced significant declines of 15.34% over the last week, 21.27% over the past two weeks, and 34.66% over the last month, highlighting persistent downward pressure.

Given the substantial gap from the all-time high of $2.99 and the ongoing downtrend, sentiment remains negative. The technical indicators suggest a lack of buying interest and increased selling pressure, with resistance evident at the $0.1413 level marked by the 55 SMA.

Considering these factors, the current market conditions for Pi Network indicate a SELL rating. The persistent downtrend, combined with the bearish moving averages and declining RSI values, suggests further downside risk before any potential reversal. Investors should be cautious and consider exiting positions until a clearer bullish signal emerges.