Pi Network (PI) is currently trading at $0.146009, reflecting a 24-hour decline of 4.34%. The price has fluctuated between a high of $0.153694 and a low of $0.133785 over the last day, indicating a daily range of 0.019909%, with trading volume at approximately 35.77 million, representing 2.77% of its market cap.

Technical indicators show mixed signals, with the hourly moving averages reflecting slight upward trends for the shorter SMAs, specifically the 8 SMA at $0.1430 (+2.10%) and the 13 SMA at $0.1429 (+2.19%). Conversely, the longer-term 55 SMA and 144 SMA are showing bearish momentum, with declines of -4.32% and -6.68%, respectively, suggesting weakening momentum at these levels.

The Relative Strength Index (RSI) readings indicate that PI is in a neutral position on the 1-hour chart at 53, while the 7-day RSI is at 45, approaching oversold territory. The 7-day price change shows a significant drop of -11.95%, while the 14-day and 30-day changes are even steeper at -19.98% and -30.61%, respectively, signaling a prolonged bearish trend.

Given that PI's current price is significantly lower than its all-time high of $2.99, which was recorded in February 2025, the asset is in a deep retracement phase. The market sentiment appears cautious, as the short-term moving averages struggle to maintain bullish momentum against a backdrop of longer-term declines.

Considering the current technical indicators, the bearish momentum in longer SMAs, and the recent significant price drop, I recommend a Hold rating for Pi Network (PI). This strategy allows investors to monitor for potential stabilization or reversal signals before making further investment decisions, as the asset may still experience volatility in the near term.