Is Pi Network Bottoming Out? PI Recovers 10% After Record Crash

Pi Network (PI) has had a brutal week, shedding 40% of its value and hitting a new all time low of $0.07. After losing key support at $0.10, intense selling pressure kicked in, leaving buyers nowhere to be found. Over the last ten days, only a single day managed to close in the green, showing how bearish the sentiment has been.

This massive sell off pushed momentum indicators to extreme levels. The daily Relative Strength Index plunged to just 12 points, which is an unprecedented low for the token. While these deeply oversold conditions often signal that a price bottom is close, the market remains highly cautious.

In the last few hours, PI managed to bounce back by 10%, climbing to $0.08. To prove this is more than a brief relief rally, the token needs to reclaim the $0.10 level, which has now turned into a tough resistance. If the $0.07 support fails to hold in the coming days, the price could slide further toward $0.06 or even $0.05.