Pi Network (PI) recently experienced tumultuous trading conditions after reaching unprecedented heights earlier this year. On February 26, 2025, the cryptocurrency's market capitalization soared to $19.2 billion, but it has faced significant declines, dropping to $9.2 billion driven by mounting selling pressure. The PI token corrected by 22% over the past two weeks and registered another 8% drop within the last 24 hours. This downward spiral has coincided with negative sentiment fueled by the KYC deadline and other market stresses.
Current data from Pi Network’s Directional Movement Indicator (DMI) paints a clear picture of market activity as of March 18, 2025. The Average Directional Index (ADX) stands at 18.3, indicating the trend remains weak. More alarming for holders, the positive Directional Indicator (+DI) has dropped to 16.1 from 23 just two days prior, around March 16, 2025, signaling dwindling buying momentum. Conversely, the negative Directional Indicator (-DI) has increased to 26.2 from 19.6, showing sellers are regaining control.
These shifts confirm the existing downward trend, and analysts suggest if the +DI doesn’t bounce back soon and the ADX surpasses 20, PI could remain under pressure for the near term. Recent trends have pushed the Chaikin Money Flow (CMF) down to -0.14, indicating significant selling pressure as the metric has stayed within negative territory for the last two days. This decline follows its recent peak of 0.15 observed early March, marking one of the many volatility challenges since the launch.
Despite these challenges, some analysts are holding on to hope thanks to rumors of potential Coinbase listings after Chief Legal Officer Paul Grewal tweeted about Pi Day on March 14, showcasing designs baked with the Greek letter pi. Market analysts speculate such blog could push the price to rally by as much as 30%, with platforms like CoinCodex predicting even larger upward movements. They forecast PI could skyrocket by 229.35% over the upcoming month, potentially reaching $4.64, presenting hope for traders and current holders alike.
Currently, PI is trading at $1.35, showing around 7.29% decline recently. The mixed sentiments surrounding the token, augmented by the chaotic migration to the mainnet, suggest the path to recovery won’t be easy. The migration's deadline has recently passed, causing significant panic among countless users who weren’t able to complete their Know Your Customer (KYC) verification process. Unfortunate consequences included some users experiencing their transferable balance resetting to zero. Though the reset was temporary, the looming fears of loss positioned investors to sell off more aggressively, prompting the alarming recent price drops.
It’s worth noting amid trading on exchanges like OKX, where Europeans can buy PI and also receive promotional bonuses, sellers might begin capitulating if PI continues on this downward trend, potentially testing supports at $1.23. Should PI break below this level, it may plummet under $1.20 for the first time since February 22, 2025.
Nevertheless, if PI can muster some positive momentum, testing resistances of $1.57 is on the horizon. Crossing $1.57 could yield significant bullish potential—setting the stage for growth toward $1.82 and $1.98. If momentum accelerates sufficiently, it could even see PI crossing the $2 mark for the first time since March 1, 2025, signaling potential trend reversals and new highs to excited traders.
Looking forward, the volatility and competitive pressure on Pi Network highlight both the risks and potential rewards associated with the rapidly changing cryptocurrency market. With its position ranked eleventh by market cap, Pi Network is positioned among actors forging the future of digital currencies. For now, investors must navigate this tumultuous sea with caution and analysts can only watch as this digital coin evolves.
