Pi Network extended losses on Monday after closing the previous session on a bearish note, keeping the token pinned below the $0.1000 psychological level. Sellers are still defending resistance near $0.0961, even as improving sentiment in the wider cryptocurrency market helps cushion speculative demand.
While derivatives activity appears to be holding up, Pi Network’s near-term technical picture remains mildly bearish. Traders are focused on whether the token can reclaim $0.0961, a move that would be needed to shift momentum and reopen a path toward higher levels.
Key takeaways
- Price move: Pi Network remained under $0.1000 and continued to trade below resistance around $0.0961.
- Catalyst: A bearish close previously weighed on sentiment, while overhead supply has repeatedly capped attempts to break above $0.0961.
- Derivatives backdrop: CoinAnk data shows Pi Network futures open interest at $9.26 million, staying above $9 million for six days.
- Key implication: A decisive daily close back above $0.0961 would weaken the immediate bearish outlook and bring $0.1000 back into focus.
- Risk to watch: A close below $0.0950 would challenge a recent trendline breakout and could shift attention toward the $0.0700 area.
What drove the move
Pi Network’s slide on Monday followed a bearish close in the prior session, prolonging a pattern in which the token struggles to regain key technical levels. The market’s immediate focus has centered on the $0.0961 zone—an area that has acted as a ceiling and aligns with a 127.2% Fibonacci extension level derived from the decline between $0.1998 and $0.1183.
Even with early signs of stabilization across crypto, PI’s price action suggests supply remains active. Momentum indicators point to selling pressure gradually easing, but the token has yet to confirm a full reversal.
Market reaction: improving sentiment, but PI still needs confirmation
Broader cryptocurrency sentiment has started to improve, according to CoinMarketCap’s Crypto Fear and Greed Index, which stands at 40—a move away from the Fear zone toward neutral territory. That kind of shift typically supports risk appetite and can encourage traders to re-engage with speculative assets.
However, the index level also signals that caution remains in place rather than a decisive turn toward aggressive buying. For Pi Network, that means the token still depends on attracting stronger demand than what the current sentiment shift may already be providing.
Derivatives data offers a more nuanced read. CoinAnk data shows Pi Network futures open interest at $9.26 million, with the metric remaining above $9 million for the past six days. Open interest reflects the total value of outstanding futures contracts that have not been settled, and its stability suggests speculative positioning has not collapsed during the recent decline.
At the same time, the absolute level remains relatively low compared with larger parts of the crypto market, implying PI’s derivatives participation is limited. Stable open interest combined with improving sentiment is therefore a mildly positive backdrop—but it is not yet a decisive signal of sustained capital inflows.
Technical setup: $0.0961 is the pivot
Pi Network remains within a broader bearish structure while trading below the $0.0961 resistance area. Traders are watching whether the token can produce a sustained daily close above that level, which would weaken the immediate bearish outlook and place the $0.1000 threshold back in play.
Momentum indicators are mixed rather than fully bearish. The MACD is reported as being above its signal line and rising, but still in negative territory—an arrangement that can indicate downside pressure is fading without guaranteeing a confirmed bullish trend. The Relative Strength Index is near 45, approaching the neutral midpoint of 50; a move above the midline would suggest buyers are gaining control.
If PI can clear $0.0961, analysts expect a potential retest of $0.1000 and, under stronger buying conditions, a follow-through toward levels associated with the broader Fibonacci anchor at $0.1183. The move from $0.0961 to $0.1183 would represent roughly a 23% recovery, though sustaining that kind of push may require improved trading activity and stronger open-interest expansion, given the relatively contained derivatives footprint.
On the downside, the previously broken descending trendline near $0.0950 is highlighted as immediate support. Holding above that area would keep the short-term recovery attempt alive, while a decisive daily close below $0.0950 could invalidate the trendline breakout and increase selling pressure. In that case, the $0.0700 region would become the next major downside reference point.
Bigger picture: what investors should watch next
Pi Network appears to be caught between stabilizing momentum and persistent overhead resistance. The next test is whether buyers can reclaim $0.0961 and hold it long enough to restore confidence toward $0.1000. If the token fails to do so and breaks $0.0950, market focus is likely to shift back toward lower levels.
Traders will likely monitor ongoing changes in broader crypto sentiment—particularly the Fear and Greed index—as well as whether futures open interest rises alongside any price recovery, a combination that would indicate stronger participation rather than a short-lived bounce.
