The Pi network (PI) faced a prolonged fall despite its integration with Telegram🤔⁉️

The PI network ( is under severe selling pressure, with its price dropping by more than 61% over the last 30 days. Despite a recent partnership with the Telegram digital wallet, PI has struggled to regain momentum, as technical indicators remain mostly bearish.
The BB trend has been negative for 12 consecutive days, and although the )RSI( has recovered slightly from oversold levels, it is still below the neutral mark of 50. With the downtrend continuing and critical support levels approaching, the next move for PI is likely to depend on whether buyers can intervene and reverse the current trajectory.
The PI BB direction has been negative for 12 days:
The Pay Network )PI( continues to face downward pressure, as reflected in its BBTrend indicator, which remains deep in the negative territory at -22.34.
This is despite the recent headlines about the integration of the Telegram wallet for cryptocurrencies with the Pay network, which news has yet to translate into sustained bullish momentum.
The BBTrend indicator recently reached its lowest level at -41 on March 21 and has remained negative since March 16, indicating twelve consecutive days of bearish trend signals. This prolonged weakness highlights the ongoing struggle of buyers to regain control of the market.
BBTrend, or Bollinger Band Trend, is a momentum-based indicator that helps measure the strength and direction of a trend. Positive values of BBTrend indicate bullish momentum, while negative values indicate bearish sentiment - the further away from zero, the stronger the trend.
With the BBTrend sitting at PI at -22.34, the market remains under strong bearish pressure, even if the worst of the recent bearish trend may ease slightly from its lowest extremes.
Unless this trend reverses into the positive zone soon, the price of PI may remain under pressure, with buyers staying cautious despite the recent merger news.
The relative strength index of the Pi network has recovered from an oversold condition but still lacks upward momentum:
The Pay network shows early signs of recovery in momentum, with the Relative Strength Index )RSI( rising to 40.45 after having reached 23.8 just two days ago.
While this rebound indicates a reduction in excessive selling pressure, the PI Relative Strength Index has not crossed above the neutral 50 mark in the past two weeks - highlighting the ongoing weakness in buyer conviction.
Despite the slight rise, the market has not yet seen enough strength to significantly shift sentiment in favor of buyers. This cautious rise could either lead to a breakout or a halt in the continuation of consolidation.
The Relative Strength Index, or RSI, is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100, with values above 70 indicating overbought conditions and those below 30 indicating that the asset is oversold.
With the RSI for PI currently at 40.45, it is in a neutral to bearish zone—not overly sold but still lacking strong buying pressure.
To achieve a clearer directional reversal, the RSI may need to break above 50, which has not happened for two weeks. Therefore, the current movement is more of a potential bottom attempt rather than a confirmed reversal.
Will PI continue to correct itself?
The price of PI is currently trading within a solid bearish trend, as evidenced by the alignment of its EMA ) exponential moving averages (—where short-term EMAs remain consistently below long-term EMAs.
This setting reflects continuous selling pressure, and if the correction continues, it could lead PI to revisit key support levels at $0.718, with a potential drop to $0.62 if this level fails to hold.
However, the latest signs of life in the RSI suggest that a short-term recovery may be in the making, providing some hope for a rebound.
If bullish momentum builds up, PI could challenge resistance at $1.05 in the near term. A breakout above this level would change sentiment and open the door for further gains, with $1.23 and even $1.79 as potential targets if the uptrend strengthens.