Pi Network (PI) is currently trading at $0.160981, reflecting a notable 6.09% decrease over the past 24 hours. The daily price action has seen a high of $0.172227 and a low of $0.152695, indicating a relatively tight daily range of 0.019532%, which shows limited volatility in the short term.

Volume for the past 24 hours stands at 28,844,446, corresponding to a market cap volume ratio of 2.07%, suggesting moderate trading activity relative to its market capitalization. The hourly moving averages indicate a bearish trend, with the 8 SMA at $0.1577 showing a slight increase of 2.10%, while longer-term SMAs (21 SMA at $0.1646 and 55 SMA at $0.1648) are down 2.22% and 2.34%, respectively.

The 1-hour RSI is currently at 33, indicating that the asset is approaching oversold territory, which may prompt a potential short-term rebound. However, the 7-day RSI of 45, coupled with recent price changes of -10.69% over 7 days, -21.09% over 14 days, and -21.35% over 30 days, highlights a bearish momentum that persists over multiple time frames.

The all-time high for PI is significantly higher at $2.99, achieved on February 26, 2025, suggesting that the current price is still well below historical peaks. Despite this potential for future appreciation, the current downward trend raises concerns about the immediate performance of the asset.

Given the recent price decline, bearish technical indicators, and the RSI suggesting oversold conditions, a cautious approach is warranted. Thus, I recommend a Hold rating for Pi Network (PI) at this juncture, as it may be prudent to observe for signs of stabilization or reversal before considering any new positions.