Pi Network (PI) is currently trading at $0.161813, reflecting a 24-hour decline of 6.31%. The daily price action shows a high of $0.17438 and a low of $0.161557, indicating limited volatility with a daily range of just 0.012823%.

Trading volume stands at approximately 15.23 million, corresponding to a volume-to-market cap ratio of 1.02%, suggesting low liquidity in the current market. The short-term moving averages indicate a bearish trend, with the 8 SMA at $0.1658 down 2.42% and the 13 SMA at $0.1675 down 3.42%, both below the current price.

The 1-hour RSI is at 18, indicating that PI is significantly oversold in the short term, which could suggest potential for a corrective bounce. Conversely, the 7-day RSI at 48 signals a neutral trend, while the 14-day change of 11.28% indicates some recovery potential after a previous downturn.

Over the past 30 days, PI has declined by 11.59%, reflecting ongoing selling pressure, and the all-time high of $2.99 remains far from the current price, indicating a substantial gap to recover. The recent 7-day price change of -9.25% further highlights the bearish momentum, suggesting the need for caution among traders.

Given the current technical indicators and fundamental context, PI appears to be in a bearish phase but is oversold in the short term. Based on this analysis, a rating of Hold is recommended as there may be a potential short-term bounce, yet the overall trend remains negative.