Pi Network (PI) is currently trading at $0.2156, reflecting a 24-hour change of -2.06%. The price has seen a daily range of $0.0072, with a high of $0.2216 and a low of $0.2143, indicating a relatively stable trading environment within this narrow range.

Volume stands at approximately 15.19 million, with a volume-to-market cap ratio of 0.84%. This suggests that trading activity is moderate but lacks the momentum necessary for a significant price movement in either direction.

Technical indicators show that the short-term moving averages (8, 13, and 21 SMA) are all below the current price, indicating bearish sentiment. The 55 SMA at $0.2211 also reflects a downward trend, while the longer-term 144 SMA at $0.2257 suggests a resistance level that traders may struggle to breach in the near term.

The Relative Strength Index (RSI) on an hourly basis is at 29, suggesting that the asset is currently oversold. The 7-day RSI at 43 further supports this, indicating that there is potential for a price rebound if buying interest increases, but current momentum remains weak.

In the last seven days, PI has decreased by approximately 6.75%, and over the last 14 days, the price has fallen by about 10.24%. The 30-day price change shows a slight decline of 2.85%, reinforcing the bearish trend and lack of upward momentum in the market.

Given that the all-time high for Pi Network is significantly higher at $2.99, current pricing shows potential for recovery if market conditions improve. However, the immediate outlook remains bearish with current technical indicators and RSI readings suggesting continued selling pressure.

In conclusion, the market sentiment for Pi Network indicates a "Hold" rating. While there is potential for a rebound if market conditions change, the current bearish trend and oversold conditions require caution before making any new purchases.