Pi Network price faces renewed selling pressure after a strong rejection at $0.29, with price action showing signs of weakness that may extend toward $0.19 support.
Summary
- $0.29 resistance rejected sharply, confirming bearish control.
- $0.19 high-timeframe support aligns with Fibonacci and POC.
- Failure to hold $0.19 could trigger deeper downside continuation.
Pi Network’s (PI) price action has turned sharply bearish following a clear rejection from the $0.29 resistance zone, a level that has not been reclaimed since the previous capitulation phase. The inability to sustain above this key level confirms that sellers remain in control, while volume continues to fade, signaling further downside potential. As expected, price has since stabilized around $0.19 – $0.20 after an oversold bounce, with buyers defending high-time-frame support in an attempt to establish a base for recovery.
Pi Network price key technical points:
- Major Resistance: $0.29 level rejected strongly after a failed retest.
- Critical Support: $0.19 forms the next high-timeframe support with Fibonacci confluence.
- Market Condition: Price is currently in free fall, showing little structural support.
From a technical perspective, the $0.29 resistance has proven to be a critical barrier. This level has not been successfully reclaimed since the bearish capitulation, and the most recent retest was met with a swift rejection, confirming that supply remains dominant. The failed attempt to recover above this region shows that buyers lack strength to sustain momentum, while sellers continue to defend resistance aggressively.
The value area high (VAH), which previously provided structural balance, was also lost rapidly. This has left Pi Network’s price action without any immediate support within the current trading region. As a result, price is effectively in free fall, with lower timeframe candles confirming persistent weakness and declining volume, both signs of a continuing corrective phase.
The next major support level lies at $0.19, which is in confluence with the 0.618 Fibonacci retracement level and the Point of Control (POC) from prior accumulation. This zone represents the last high-timeframe level where bullish participants could attempt to defend the structure.
A retest of this region would offer the potential for a rotation back toward the $0.29 resistance, but only if demand reappears and strong bullish volume materializes.
The broader market structure for Pi Network remains bearish, with consecutive lower highs and lower lows confirming continuation of the downtrend. The rejection from $0.29 reaffirms this weakness, suggesting that the recent rally was only a short-term relief bounce within a larger corrective cycle..
What to expect in the coming price action
As long as Pi Network remains below $0.29, the market bias remains bearish. Price is likely to drift lower toward $0.19, where a reaction could determine the next directional move. If this level holds, a rebound toward $0.25–$0.29 may follow; otherwise, failure to hold this critical zone could open the door to deeper losses.
