Pi Network Forecast: Bearish pressure persists on PI token despite network access and security upgrade

• $0.075 is Pi Network’s trading level on Monday. The price has stabilised after successive daily declines of 1.78% and 2.33%, respectively.
• Desktop version 0.6.4 is being rolled out by Pi Network to strengthen remote access and security for local AI apps.
• A record-low weekly close leaves the PI token’s technical outlook bearish as downward pressure persists.

$0.075 is the level around which Pi Network (PI) is trading on Monday. The price is steady after two successive daily losses of roughly 2% left it with its lowest-ever weekly close. Thursday’s release of Pi Network desktop version 0.6.4 targeted better remote access and security for local AI apps. Mounting downward pressure nevertheless keeps PI’s technical outlook bearish.

0.6.4: Pi Desktop Update Released

Improved remote access and security for SoloHost applications are the focus of desktop version 0.6.4, whose release was announced by Pi Core Team. The update includes support for hosting local AI apps through Pi Browser without configuring home routers. It comes after the recent network upgrade to Protocol version 28 on 16 October, which targets transaction data delays and simpler smart contract maintenance for developers.

$0.0704 Support in Focus as Pi Network Faces Record-Low Risk

$0.0756 is Pi Network’s price at the time of writing on Monday. The near-term bias remains bearish. As its decline continues, the PI token remains well beneath long-term trendline resistance near $0.0811, drawn through the highs of 20 June and 22 August. The broader technical trend stays under pressure, with PI trading below both the 50-day Exponential Moving Average (EMA) at $0.0844 and the 200-day EMA at $0.1195.

Persistent selling pressure is also indicated by the momentum signals. The Relative Strength Index (RSI) sits around 33 in oversold territory, while the Moving Average Convergence Divergence (MACD) line holds just below zero.

If the current $0.0756 level fails to hold, dip-buyers could seek to slow the decline at immediate support around the $0.0704 swing low.

On the upside, the first resistance lies near $0.0811, where the trendline was broken. Above it, the 50-day EMA at $0.0844 and the 23.6% Fibonacci retracement at $0.0867, calculated from $0.1394 to $0.0704, complete a nearby cluster of supply.

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