Pi Network (PI) Price Prediction: Technical indicators show a decline in buyer confidence, and a breakthrough of the RSI neutral level to end short positions must happen as soon as possible.

Pi Network (PI) today (14) reported a price of 0.4671 USD in the Asian early trading session, and the technical indicators show a decline in buyer confidence. To end the short positions trend, the Pi coin must quickly break through the RSI neutral zone.

A few months ago, Pi Network was all the rage, and this cryptocurrency born at Stanford seemed on the verge of being released. However, since then, Pi has been on a downward trend, and most traders are looking for other coins, hoping to find the next hundredfold return this year.

Why is Pi coin dropping?

Pi coin had a good start in the second quarter of this year, and most ETF decisions seem to have been resolved to some extent. This has overcome the uncertainties that ETFs faced last year with Solana, Dogecoin, and Ripple.

All this excitement has now spread to the third quarter, with Bitcoin intensifying the hype around cryptocurrencies. Bitcoin (BTC) has surpassed $118,000 in the past week, but surprisingly, Pi Network has gone against the trend.

Moreover, the situation is not good at all. The price of PI coin is close to its historical low of 0.40 USD, and the current trading price is 0.46 USD. It has dropped by 9% in the past 24 hours, with a net decline of approximately 5.75% over the past seven days.

The technical indicators of Pi Network also show a decline in buyer confidence. The Relative Strength Index, although it has slightly increased over the past week, remains in the neutral zone. In order to redeem the bullish trend of Pi coin, the token must break through as soon as possible.

But for Pi Network, such a breakthrough currently seems elusive; the focus of speculation is on truly practical cryptocurrencies.