According to reports from AMBCrypto, Pi Network [PI] has experienced a 23.6% decline over the past six weeks, falling from $0.0988 to $0.0758. The cryptocurrency posted a modest 0.56% decline in the past 24 hours, bringing its 1-week performance to a -3.75% return. This relatively weak performance aligned with the altcoin market's weekly drawdown of 2.11%, as reported by AMBCrypto. Recent reports indicate that Pi Network had pushed toward $0.082, the local resistance zone, with a recovery above this area not expected due to lack of sustained demand and bearish wider market sentiment. As of October 27, Pi Network was trading near $0.076, remaining below the $0.08 level it briefly approached during the week, according to latest market data.
As reported by AMBCrypto, the $0.07 swing point on the daily timeframe represents a key support level, with the $0.070-$0.073 higher timeframe support levels not much further south. The $0.0986 level, positioned near the psychological $0.10 round-number resistance, has served as a key resistance level since July. The RSI was in slow decline toward the oversold area and has remained below neutral 50 to signal bearishness since September, while the OBV was also declining, underlining steady selling pressure. The 4-hour candle's downward wick to $0.074 on October 14th is being tested once again as a demand zone, with the $0.070 swing low being the next level to watch to determine the next higher-timeframe price move. Small changes in a coin priced in cents can look trivial in dollar terms - a move from $0.076 to $0.08 is about 5.3%, while a retreat from $0.076 to the historical low around $0.0706 is about 7.1%.
According to reports from AMBCrypto, the Pi Network Core team announced the launch of Pi Desktop version 0.6.4, featuring the biggest change of making remote access to SoloHost applications much easier. The update also provides enhanced protection measures for SoloHost users. Additionally, Pi Network recently completed its upgrade to Protocol 28, which improved the network's handling of delayed transaction data, as reported by AMBCrypto. Despite these technical improvements, Pi Network has lost ground to sellers at a steady rate, with the $0.07 and $0.139 swing points on the daily timeframe being the key levels to monitor. The October 22 desktop release made SoloHost applications easier to access remotely through Pi Browser without altering router configurations, while adding security checks to prevent apps from accessing unrelated files and network resources. However, neither the Protocol 28 activation on October 16 nor the desktop release produced a sustained recovery above eight cents, as reported by AMBCrypto.
As reported by AMBCrypto, the first Ecosystem Summit in mid-November could alter long-term investor sentiment bullishly. The evidence shows steady selling pressure and downward momentum, with the $0.070 swing low being the next level to watch to determine the next higher-timeframe price move. If buyers can flip the script, a price bounce toward $0.10 is possible, though otherwise swing traders and investors must brace for further price decline. The longer-term trend remained in favor of the sellers, with the $0.070-$0.073 higher timeframe support levels not much further south, indicating that Pi Network is approaching a pivotal level where the next major directional move will likely be determined. However, the market has already had two chances to react to software news - Protocol 28 was activated on October 16 and the October 22 desktop release - neither announcement produced a sustained recovery above eight cents. The $0.076 price on October 27 leaves the token under the $0.08 level it briefly approached during the week, as reported by AMBCrypto.
