The current price of Pi Network (PI) stands at $0.234012, reflecting a 24-hour change of -3.70%. The daily trading range has been tight, with a high of $0.243774 and a low of $0.233525, indicating subdued volatility in the market.

Volume has reached 23,711,542, translating to a 1.22% market cap ratio, which suggests relatively low trading activity compared to its overall market valuation. The hourly moving averages are showing bearish momentum, with all relevant SMAs (8, 13, 21, 55, and 144) indicating declines ranging from -1.50% to -3.06%.

The 1-hour RSI is particularly concerning at 19, signaling strong oversold conditions and potential for a short-term rebound. However, the 7-day RSI at 51 indicates that the asset is neither overbought nor oversold in a broader context, while the 7-day and 14-day price changes of 3.21% and 1.14% respectively show some positive momentum in the short term.

Over the past 30 days, PI has appreciated by approximately 12.78%, which might suggest an overall uptrend, yet recent price action reflects a clear pullback. Given the substantial distance from its all-time high of $2.99, current levels indicate significant room for recovery, but also highlight the inherent volatility and risk.

Considering the combination of short-term bearish indicators and a potential for recovery based on longer-term trends, the current analysis leads to a Hold rating. Investors should monitor the price action closely, particularly for a reversal signal in the RSI, before making any substantial trading decisions.