The value of PI has dropped by 25% in the last 24 hours, a significant decline right after the launch of Pi Network Ventures' $100 million startup fund. Despite the fund's launch, the response from the market has been lackluster, leading to concerns about the short-term price trend of the PI token.

The PI/USD one-day chart suggests that the price decline may continue, with PI's value reaching a point where it could fall below its 20-day Exponential Moving Average (EMA), indicating a sustained downward trend.

The 20-day EMA calculates the average price of an asset over the past 20 trading days, giving more weight to recent prices. A breach below this critical moving average indicates weakening short-term momentum and a potential shift towards a bearish trend, potentially eroding the recent gains made by PI between May 8 and May 13.

Additionally, PI's Balance of Power (BoP) currently shows a negative value, indicating a trend of selling pressure among traders, with the indicator at -0.14.

If PI breaks decisively below its 20-day EMA, confirming a bearish shift in market sentiment, it could go further down towards $0.40, as the support at $0.80 may no longer hold and sellers could dominate the market.

Conversely, if buyers regain control, PI's price may rise towards $1.01.