Pi Network Forecast: PI token remains under bearish pressure despite network access and security upgrade

Pi Network (PI) trades around $0.075 on Monday, holding steady after two consecutive days of roughly 2% losses, resulting in the lowest weekly close ever. Pi Network rolled out desktop version 0.6.4 on Thursday, focused on improving remote access and security for local AI apps. Still, the technical outlook for PI is bearish as the downside pressure mounts.

Pi Desktop version releases 0.6.4 version

Pi Core Team announced the release of the 0.6.4 desktop version, focused on improving remote access and the security of SoloHost applications, including the ability to host local AI apps through Pi Browser without configuring home routers. The release follows the recent network upgrade to Protocol version 28 on October 16, which focuses on handling transaction data delays and making smart contract maintenance easier for developers.

Technical outlook: Will Pi Network's price hit a record low?

Pi Network trades at $0.0756 at press time on Monday, maintaining a bearish near‑term bias. PI token extends its decline well below a long-term resistance trendline, connecting the highs of June 20 and August 22, near $0.0811. From a technical perspective, PI sits below the 50‑day Exponential Moving Average (EMA) at $0.0844 and the 200‑day EMA at $0.1195, keeping the broader trend under pressure.

Momentum remains weak as the Relative Strength Index (RSI) hovers near 33 in oversold territory, and the Moving Average Convergence Divergence (MACD) line remains marginally below zero, together suggesting that selling pressure persists.

Immediate support is defined by the swing low around $0.0704, where dip‑buyers could attempt to slow the slide if the current $0.0756 level gives way.

Looking up, initial resistance is seen at the trendline break level near $0.0811, followed by the 50‑day EMA at $0.0844 and the 23.6% Fibonacci retracement at $0.0867, measured from $0.1394 to $0.0704, forming a nearby supply cluster.

(The technical analysis of this story was written with the help of an AI tool. Know more.)