Pi Network (PI) is currently trading at $0.216639, reflecting a slight decline of 0.05186% over the last 24 hours. The price has fluctuated within a range of $0.214295 to $0.221115, indicating low volatility with a daily range of just 0.00682%.

Volume is recorded at 17,988,252, which translates to a volume-to-market cap ratio of 1.00%. This low volume suggests limited trading interest, which may contribute to the current price stagnation and overall bearish sentiment in the market.

Technical indicators show that the short-term moving averages are all trending downward, with the 8 SMA at $0.2170 showing a decrease of 0.16%. The 14-day and 30-day price changes of -13.85% and -7.37%, respectively, indicate a persistent downtrend over these periods, reinforcing a bearish outlook.

The 1-hour RSI stands at 46, while the 7-day RSI is at 43, both suggesting that the asset is nearing oversold territory but not yet signaling a reversal. With the 144 SMA at $0.2234, a substantial resistance level exists above the current price, indicating that further upward movement may encounter significant selling pressure.

Considering the all-time high of $2.99 reached in February 2025, the current price represents a significant decline, highlighting ongoing challenges for Pi Network to regain previous highs. Coupled with the downward momentum and low trading volumes, it appears that the market sentiment remains bearish for PI.

In conclusion, given the current price trends, technical indicators, and lack of bullish momentum, a Sell rating is appropriate. This recommendation is based on the persistent downtrend and resistance levels indicating that investors should exit positions until a clearer bullish signal emerges.