Pi Network (PI) is currently trading at $0.188292, reflecting a minor decrease of 0.45404% over the past 24 hours. The daily trading range has been relatively tight, with a high of $0.196907 and a low of $0.186457, indicating limited volatility in the short term.

The volume of 18,089,944 is noteworthy, as it translates to a Vol/Market Cap ratio of 1.15%, suggesting moderate trading activity relative to its market capitalization. However, the overall sentiment appears weak, with the 7-day RSI at 37 indicating oversold conditions and the price has dropped by approximately 8.7% over the past week.

Moving averages show a bearish trend across different time frames, with the 8 SMA at $0.1928 indicating a decline of 2.32% and the longer 144 SMA at $0.2025 reflecting a significant drop of 7.01%. The fact that the current price is below all key moving averages suggests further downside potential unless a reversal occurs.

Looking at the historical performance, PI is significantly down from its all-time high of $2.99, set on February 26, 2025. The 14-day and 30-day price changes of -11.12% and -9.25% respectively highlight a consistent downtrend, further reinforcing the bearish outlook.

Given the current technical indicators and weak momentum reflected by the RSI and moving averages, the outlook for PI is bearish. The price has not yet established a strong support level, and with continued downward pressure, it may face further declines in the near term.

Based on this analysis, the recommendation for Pi Network (PI) is to Sell. The combination of negative price momentum, oversold conditions, and failure to reclaim key moving averages indicates a lack of short-term recovery potential.