Pi Network (PI) is currently priced at $0.207938, reflecting a 3.96% decline over the last 24 hours. The daily trading range has been relatively tight, oscillating between a low of $0.204712 and a high of $0.216796, with a 24-hour trading volume of approximately 20.81 million.

The moving averages indicate a bearish trend, with the 8 SMA at $0.2092 showing a decline of 0.59%, and the 55 SMA at $0.2154 reflecting a more significant drop of 3.46%. The 1-hour RSI is at 34, indicating oversold conditions, while the 7-day RSI at 45 suggests the asset is nearing neutral territory, albeit still in a downtrend.

In terms of momentum, the price has seen a notable decline over the past week (-10.45%), the past two weeks (-21.52%), and the past month (-9.90%). This trend is corroborated by the low volume to market cap ratio of 1.20%, suggesting weak buying interest.

Given the current technical indicators and the overall bearish sentiment reflected in the moving averages and price momentum, the outlook for Pi Network remains weak. The significant distance from its all-time high of $2.99 also indicates that there is a lack of upward momentum and investor confidence.

In conclusion, the market conditions and technical analysis suggest a Sell rating for Pi Network (PI). The bearish price action and weak RSI readings indicate that further downside may be likely in the near term, making it prudent for investors to exit positions or refrain from new purchases at this time.