Pi Network (PI) is currently trading at $0.158037, reflecting a 4.30% decrease in the past 24 hours. The daily range has been relatively tight, with a high of $0.166214 and a low of $0.156513, indicating a lack of volatility despite the downward price trend.

Volume stands at approximately 16.01 million, translating to a volume-to-market cap ratio of 1.10%, which suggests low trading activity relative to its market capitalization. The hourly moving averages indicate a bearish sentiment, with all key SMAs trending downwards and the 55 SMA at $0.1685 showing a significant decline of 6.19%.

Technical indicators such as the 1-hour RSI at 34 reflect oversold conditions, while the 7-day RSI at 43 suggests that the asset is approaching oversold territory but has not yet confirmed a reversal signal. The price has seen a 7-day change of -7.58% and a more significant 30-day decline of -13.34%, pointing to a bearish trend over both short and medium-term periods.

Despite a recent positive 14-day price change of 9.02%, this is overshadowed by the broader downward momentum observed over the last month. The all-time high of $2.99 reached in February 2025 is a distant memory, further emphasizing the current downtrend and the challenges the asset faces to regain investor confidence.

Considering the current price action, volume metrics, and the bearish technical indicators, the outlook for Pi Network appears weak. Therefore, the rating is a Sell, as the downward momentum and lack of positive catalysts suggest that further price declines are likely before any potential recovery can take place.