Pi Network has been experiencing a challenging period in terms of its price movement as it dropped below $1 and is struggling to recover fully. The current market conditions indicate that Pi Network might face difficulties in reclaiming the $1.00 price level.

The Average Directional Index (ADX) is currently above 25 at 32, showing a strengthening downward trend for Pi Network. This bears a negative sentiment among traders and investors. The Parabolic SAR indicator also supports this downtrend, with dots positioned above the candlesticks indicating a potential further fall in price.

The correlation between Pi Network and Bitcoin is weakening, with a current measurement of 0.25, implying that Pi is becoming less dependent on Bitcoin’s movements and is developing its path. This divergence is significant, especially as Bitcoin sets new all-time highs, while Pi Network may not benefit from this bullish momentum.

With the current price at $0.77, Pi Network would need to increase by approximately 28% to reach $1.00 again. However, given the indicators pointing towards a continued downtrend and diminishing correlation with Bitcoin, achieving this target seems challenging in the short term.

If the price breaks below the critical support level of $0.71, Pi Network might face further decline towards $0.61, deepening the bearish sentiment. On the positive side, if market conditions improve, Pi Network could break through resistance levels at $0.78 and $0.87, potentially invalidating the current bearish outlook and aiming for the $1.00 target.