Pi Network (PI) has experienced a decrease of more than 8.5% over the past week, trading below $0.65 for six consecutive days before dropping below $0.60 today. The market trend appears weak, with the price remaining below the Ichimoku Cloud.

The altcoin briefly saw its RSI rise above 50 but has since fallen back to 45, indicating a diminishing bullish momentum. Despite the bearish EMAs, the coin is currently just above a crucial support level, and the upcoming movement could determine whether there will be a further decline or a potential rebound.

Pi Network is confronting bearish pressure under the Ichimoku Cloud, indicating an overall bearish market condition. However, there may be a potential shift on the horizon as the blue Tenkan-sen has crossed over the red Kijun-sen. This crossover is seen as an early sign of a bullish trend, particularly if confirmed by rising volume or a move into the cloud. Nevertheless, the future cloud remains red, suggesting ongoing resistance and the persistence of the bearish trend.

The Chikou Span is still below both the price candles and the cloud, indicating that any upward movement has yet to be confirmed. To reverse the trend, Pi Network must breach and rise above the cloud, with all Ichimoku signals aligning in a bullish direction. Currently, the market shows indecisiveness with a short-term bullish crossover, while the price is still under the cloud, and the broader trend remains bearish.

Pi Network's RSI has dipped below 50, settling at 45.41 after a recent rally from 28.49 to 54.40. This decline from above 50 implies a weakening buying pressure, placing PI in a more neutral zone with no clear dominance of bulls or bears. The fluctuation reflects uncertainty in the current price trend and suggests a possible bearish inclination unless there is a reversal in the RSI trend.

Pi Network is presently hovering just above a critical support level at $0.59, with mounting bearish pressure. If this support is breached, the coin may target subsequent support levels at $0.547 and $0.40, possibly leading to a deeper correction. The EMAs continue to show a bearish alignment, with short-term EMAs positioned below the long-term EMAs, indicating a prevailing downward trend. However, a potential reversal could see PI testing resistance at $0.648, followed by $0.682, with a breakout above these levels potentially driving the price towards $0.789, signaling a shift towards a sustained uptrend.