Is the price of Pi Network in danger? If it falls below $0.34, it may hit a historical low.

After months of continuous decline, Pi Network (PI) is at a critical moment. The Token has long been constrained by a descending resistance line and has tested the support level of $0.34 multiple times. If this defense line is breached, the PI price may fall to a historical low.

Long-term Pressure: Descending Resistance Line Sealed Three Times

Since reaching its historical high in March, the PI price has plummeted nearly 90% and has consistently failed to break through the long-term descending resistance line.

Resistance Test: All three attempts have failed, with the most recent occurring last week.

Selling pressure continues: indicating that the selling power still dominates.

0.34 USD serves as the final defense

(Source: Trading View)

Since the beginning of August, PI has been consolidating around $0.34, which is the last major support before falling back to historical lows.

Technical signal: During the consolidation period, two lower highs appeared, which belongs to a bearish pattern.

Risk Warning: If the support is broken, the price may quickly fall.

Technical Indicators: Limited Rebound Signal

(Source: Trading View)

RSI and MACD: Recently rebounded, but has not yet broken through the bullish threshold.

Short-term possibility: There is a slight rebound space, but the probability of a trend reversal is low.

Upward resistance: Even if there is a rebound, the 0.45 dollar resistance zone may become a pressure wall.

Potential Trend Prediction

Bearish scenario (high probability): falls below 0.34 USD → tests down to 0.23 USD (corresponding to 1.61 external Fibonacci retracement level)

Bullish Scenario (Low Probability): Break through the descending resistance line → Challenge 0.45 USD, but momentum may be difficult to sustain.

Conclusion

Currently, the technical aspect of PI remains bearish, with the support level at $0.34 being the last line of defense for the bulls. Unless there is a decisive change in market momentum, the path of least resistance remains downward. For traders, a short-term rebound may exist, but strict stop-loss measures should be set to guard against a quick drop after breaking the support.