The Pi Network (PI) price chart in the 24-hour period shows strong selling pressure. The price of PI fell about 5.21% and moved from the area around USD 0.205 to the range of USD 0.194, signaling the dominance of bearish sentiment in the short term.
In the first half of the chart, the price was moving relatively flat with minor fluctuations around the USD 0.205 level. However, entering the next session saw a sharp decline that broke the previous consolidation area. After briefly forming a small bounce, selling pressure returned and pushed the price down further to near the daily low.
This movement pattern indicates that buyers have not been able to defend the short-term support, while the increased trading volume indicates the distribution or unwinding of positions. As long as the price remains below the USD 0.200 area, the PI movement is likely to be vulnerable to continue the weak consolidation phase or further correction in the near term.
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