Pi Network price forecast: Why is PI extending losses as social interest wanes?

• The bearish break below $0.0774 support faces a test as Pi Network slips on Tuesday.
• Retail interest appears to be waning as the PI token’s social dominance score falls to a six-month low.
• Sellers are eyeing the all-time low of $0.0704 as PI’s technical outlook points to further downside.

The risk of a further slide towards the $0.0704 record low hangs over Pi Network (PI), which has extended the previous day’s losses to trade nearly 2% lower on Tuesday. Social interest also appears to be fading, with the PI token’s social dominance score reaching a six-month low. An accelerating correction keeps the token’s technical outlook bearish.

Is social interest in PI fading?

A shrinking share of crypto-related online discussions is weakening Pi Network’s social positioning. According to Santiment data, the PI token’s social dominance fell to a six-month low of 0.03% on Monday, while social volume stood at 2. The figures suggest that market chatter about PI is fading, reducing a crucial bullish catalyst linked to speculative demand. 

Technical outlook: Can Pi Network avoid further price declines?

An overhead resistance trendline near $0.0838, linking the highs of 20 June and 22 August, continues to constrain Pi Network’s long-term downtrend as it trades around $0.0772 on Tuesday. The PI token also remains below its 50-period Exponential Moving Average (EMA) of $0.0862 and 200-period EMA of $0.1221.

Momentum indicators lend support to this constrained outlook. The Relative Strength Index (RSI) is near 35, while the Moving Average Convergence Divergence (MACD) remains in negative territory alongside a slightly negative histogram. Together, they suggest that sellers retain control of the near-term direction.

The $0.0704 swing low could come into view if a break below the 8 October low of $0.0774 is confirmed. A further decline beyond that point would push the PI token into downside price discovery.

Any recovery would first encounter resistance around $0.0838, the level needed to break the downtrend. Just above it lies a tight resistance cluster comprising the 50-period EMA at $0.0862 and the 23.6% Fibonacci retracement at $0.0867, measured from $0.1394 to $0.0704. Beyond this zone, the next barriers are the 50% retracement level at $0.1049 and the 200-day EMA at $0.1221.

(The technical analysis of this story was written with the help of an AI tool. Know more.)